The unit is at end of life. You were going broke running it anyway.
Well, whoever pays your electric bill is going broke running it. I find an astonishing number of homeowners have an invisible benefactor who pays all their electric bills for them! At least it appears so, since that guides all their appliance purchase decisions.
What you have there is "That 50's air conditioner". The industry was pretty lazy and did little to improve the design or efficiency of the basic products. After they started causing severe balance issues on the power grid, the government finally made them start improving efficiency.
The standard el-cheapo units have a minimum efficiency of 13 SEER these days, which is still not great.
Replace... the question is, with what?
An air conditioner is a heat pump. If you want a viewing list on heat pump technology and where it's at, here's one on the tech generally.
https://www.youtube.com/watch?v=7J52mDjZzto
Here's one on just how good the state of the art is, focusing mainly on the heating mode, which is more efficient than gas at this point.
https://www.youtube.com/watch?v=MFEHFsO-XSI&t=0s
And here's one on what is practical on the market (ignore all the energy policy talk).
https://www.youtube.com/watch?v=43XKfuptnik
What you have now is a 2-component system: It has the compressor and freon condenser (hot part) outside in a box, and the freon evaporator (cold part) directly above your furnace in the air-handling stack. It uses your furnace's blower to push cold air around the house.
If you want cheapo, they sell a simple drop-in unit replacement for what you have now. You will need to swap both units: outdoor and furnace-stack unit, because the new refrigerants require a different unit at the furnace. However these are not terribly costly, I had one quoted for $3000 two years ago in the height of COVID shortages. (granted we were a nonprofit and the person knew we would not be open for most of a year so it could be "side work").
But these are cheap. They will be 13 SEER, the government minimum (that means 13 BTU/hour per watt in A/C mode). Or maybe 14 SEER, big upgrade not. You can get high as 38 SEER (1/3 the cost to run, obviously), and better, those are heat pumps so you are running 3-6 COP in heat mode most of the heating season (so 3-6 "watts worth of heat" for 1 watt - that's better than burning gas locally!)
Most of the mini-split heat pumps are vastly better than 13 SEER. More cost upfront, but that's mainly because curmudgeonly air conditioner installers hate new things. Oh boy, have I dealt with some of those!
It's not legal to DIY air conditioners or heat pumps, as a rule. But the newest heat pump tech has a neat trick: They supply the outdoor unit pre-loaded with extra freon (that would be in the line-set and indoor unit). You plumb up the system and then do a standard air conditioning leak test with nitrogen instead of freon. And then, when everything checks out, you draw a vacuum, button everything up and open the freon valves on the compressor unit, and it fills the lines.
Mr.Cool has a second trick where all the units and line-set piping are pre-loaded with freon and have self-sealing connectors, which means no vacuum pump and gage set are necessary. But I've heard of problems with those.