Finally!!! I was able to create an AC circuit breaker.
This is a 15A 120V AC circuit breaker. I put different loads in the circuit to test the behavior. The inductor is meant to simulate a motor. The behavior is very interesting when the inductor is in the circuit. If you remove inductor and use the two bulbs and the resistor, you overload the circuit. The momentary contact switch is to simulate a short to ground/neutral.
To reset the breaker, click the logic button twice. Enjoy!!