workin4peanuts

I have a 96 camry V6 LE and last summer I had some A/C problems (it would blow hot air). I had my A/C fixed and it runs fine. My concern is that recently I noticed that when I turn on my A/C sometimes the tiny green light for my A/C button will flash for a few seconds. If I turn it off and then turn it on again, the A/C button stops flashing and remains solid. Often times I will hear a screeching noise which sounds like one of the belts. Is this something I should be concerned of? What is the problem? I bought a spray can from a local Auto Zone and apparently it is for all belts and is supposed to prevent squealing. It hasn't worked at all. Any suggestions would be greatly appreciated. Thank you!