Can low water in the radiator cause he AC to stop blowing cold air?

I drive an 03 Chevy Pickup and my AC stopped blowing cold air. It still blows air but it is outside temp and I double checked to make sure the compressor is turned on and it is. This weekend my dash lit up with a message stating that the water was low so I topped it off. Now my AC is blowing cold air again but not all the time. The cold air goes on and off. It will blow cold for a few minutes and then the cold air stops and then comes back on. With summer on its way in Texas I really need that AC but cannot afford to go to the shop and get fleeced. Ever time I got to the shop for something it seems like its going to cost me about 1,000.00 dollars. My brother said the same thing. He told me he has yet to leave the shop for less than a grand.