If the commutator is not chewed up, jut a clean up with a fine file or some fine emery cloth may be adequate.
If the slots are undercut, scrape them out first, so any burrs are removed by the sanding.
I've done that in the past by running a motor and holding a file with emery strip pulled over the end against the commutator.
And get some new brushes for it, unless they are absolutely immaculate.
If they are old and have any oil contamination, that will cause arcing and clog the commutator slots, adding to the problems.
I'd keep turning the commutator as a last resort, as if a segment is disturbed the motor is pretty much wrecked..
If you decide that is necessary, I'd suggest getting it fully tested and cleaned while it is out.
Is it a wound field or permanent magnet type motor? Excess current and arcing can be caused by field winding faults or mis-connections etc., as well as armature problems.
If it's an old permanent magnet type one (pre-Neodymium etc. magnets), it's also possible the field magnet has faded or been weakened by someone removing the armature without fitting a keeper as they did so.
That causes high current and low torque. And another reason to avoid disassembly if it is not essential..