we don't know if this machine works. does it have a ground fault? with
a digital multimeter check for faults to ground from the bare metal to
the connection terminals. then the device should be grounded and tested
before you go thru all this wiring. i don't see a green ground wire in
your wiring. you'll need one. test ac the red and black should be hot
and hot, and need to read 220 across them to run the device.
remove and replace the rusty plug and buy a proper sized outlet, cord,
wire, and breaker. don't accidentally ground either of the #2 and #4
motor hot terminals it says on one of your photos.