Typically CNC spindles have a controller that can relay to the system the status of the spindle.
In this case its not too easy on a universal motor spindle, you could either use a current detector of some kind and/or monitor the 120v at the spindle.
These are limited in the nature of the detection, but that might be the very least you could do, apart from having a rotary pulse device .
Al.
CNC, Mechatronics Integration and Custom Machine Design
“Logic will get you from A to B. Imagination will take you everywhere.”
Albert E.