Hi, You really should get it fixed. Disconnecting compressor won't help. All things alternator, water pump, A/C compressor are all driven by 1 belt. if you loose compressor because of a bearing failure. You will loose the belt & everything that is spun by belt will stop. Engine could overheat...
A plugged PCV valve could cause excessive oil to be burn't if your vehicle does not have a PCV valve there will be a vent for engine so it doesn't build up pressure in crankcase, which will force oil out anywhere it can.