No emphatically not!!!!!
Apart from causing heart attacks to any safety inspectors that come by it is far too dangerous.
When PVC fails under pressure it goes with a real bang and cracks propagate through the lengths of pipe very fast. You have a very good chance of filling your place with PVC shrapnel moving very fast.
There are no simple plastics that are safe for compressed gases. If you wanted to use a carbon fiber reinforced composite that might work..at many times the price of copper.
Use copper or galvanized. You should have a dryer on your compressor for CNC machines so with this there should be no water in the air to rust galvanized.