Chris, your right about the electric (115v) compressor is the easiest and cheapest way to go. My system has a 115v Senco compressor installed in my in bed tool box. Cost $99. 1500 watt inverter under drivers seat from Cosco for $84. 5gal tank, $20. Misc wiring and air hose and fittings and you have a 125psi working system for about $225. There are cheaper 115v compressors out there also. I seen one at Lowes for $69 the other day.
I use mine mostly for the exhaust brake and the air horns, but I also carry a 50ft hose in case I want to air up my trailer tires, or just blow a little dirt off of something.