Translation:I want air conditioning.
It's technically slang, so I don't think they'd include it. But yes, it is in real life.
"AC" is the standard abbreviation in English; it is not slang. "Air-con" would be the literal translation from Korean and Japanese (and it's the colloquial term used here in the Northern Marianas).
I think the noun form, air conditioner, should be the correct translation. 냉방 should be the correct translation for air conditioning.