Refer to the Standard Handbook for Electrical Engineers, Fink & Beaty, 13th edition - Section 20. Standard methods of braking AC motors are -
- Dynamic braking by application of DC to one phase of the motor after disconnecting from the AC supply
- Plugging, by reversing the motor connections to reverse the direction of rotation - needs auxiliary equipment such as zero-speed switches
Additional info is available from the manufacturers websites - check Cutler Hammer, ABB, GE etc.