I don't think PVC will be strong enough for air pressure,unless it is specially made for that application.
We used to use steel pipe,but when we moved to a new shop,we switched to rubber hose. With all the good quality hose out there we decided to go that route. It was WAY cheaper and easier to do in regular air hose than in steel pipe. It has been in place now for almost 4 years with no problems. Make sure you use a good hose,min 300-450 PSI rating as opposed to the cheap 150 PSI stuff. Stick to 3\4" for your mainline off the compressor,1\2" for the branches,and then 1\2" for your lines to your tools.