Grizzly,
Here's a Schematic regarding Dynamic Braking of an AC Induction Motor, which may be of some assitance to you:
Dynamic Braking of AC Induction Motor The Schematic shows a 3 phase Motor, just edit to include 2 motor Leads rather than 3 Leads.
Also, you will need to have this braking system interlocked with some type of starter. This would be best done within a conveniently sized external cabinet, that contains all needed equipment.
Scott35
