Is this a DC motor? Field loss is potentially a deadly condition for your spindle motor, because it could runaway and never come back....er...overrev and explode
I suppose, first get a competent electrician to help you troubleshoot the connections. You may have an open on the field circuit, or, perhaps a failed power supply on the field circuit.
Whatever you do, don't try to work-around the alarm. It needs proper fixing. It should have nothing to do with chuck or drawtube removal.
First you get good, then you get fast. Then grouchiness sets in.
(Note: The opinions expressed in this post are my own and are not necessarily those of CNCzone and its management)