Welcome to the forum.
Couple questions. Is this something new? That is, was it working fine on high speed and something failed or changed? When you say it jerks in and out do you mean it spins, comes up to speed then dies and keeps doing this cycle?
There has to be a starting cap in there somewhere. Reason I'm asking the questions is that a motor that's wired for 240 will run on 120, but can't handle a load. What happens is on the starting winding there is enough torque to get it going, but once the starting winding kicks out it slows up and the starting winding kicks in again, and keeps repeating this cycle. Never dealt with a two speed so it could probably be something related to the windings.
Al
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