rioneill,
Capacitive braking that you are asking for, belongs to another category of braking named regenerative braking. In this kind of braking kinetic energy is removed from the rotating load and the motor is instantly turned into a generator. We can do this, for example, with a motor that has two distinctive speeds of rotation, changing the speed from the higher (low number of poles) to the lower one (higer number of poles). The point is that when the rotor speed falls to this lower speed, generation effect stops and as a result braking stops. Here enters the idea of capacitor, by which, having removed the mains connection, we can self excite the motor to an even lower "synchronous speed" thus prolonging the generation period and extending the braking action even further.