I can't say what's wrong, but I did jsut have the same problem with my 95GT a/t. I took it in to charge when it started bolwing hot air, and they said the clutch wasn't kicking in, so I took to an A/C and the fixed in in a jif for $75.
On a side note, if you have A/C issues, try to find a shop that specializes in A/C repair...
I had a 95 Diamonte and when my A/C went out, EVERY shop in town wanted to order some special a/c unit for like $2k, I found an a/c only shop and they laughed, they said it's the EXACT same a/c as the one in the dodge caravan, stealth, and 3000gt. They did the whole job for like $1400, LESS than the other guys wanted just for parts!!! Any how, since then I have always checked around for a/c stuff, but I always end up back at Henderson Air, they know all the tricks. Even this time, when my stang cluth went, I had just "swung" into a little quicky lube shop for the charge and when they found the cluth not working, they wanted to REPLACE it, REPLACE it!!! IT WAS A $75 fix, it didn't need replaced!!!