These are prone to the brushes hanging up in the brush tubes. Try removing the 2 brush caps, remove the brushes & inspect to see if there is debris preventing the brushes from contacting the armature. Blow out with compressed air and reinstall - making sure the brushes travel freely in the tubes.
Second would be to test the switch with a multimeter - if you have questions on doing this let me know and I'll walk you through it.
Last would be to test the field connections to see if there is a burnt terminal on the field itself.
Good luck - let me know if this is helpful.
SOURCE: My milwaukee 262020 18v sawzall suddenly stopped
This model has had problems with a slide block inside the gear box that breaks. (it has been re-designed) the broken part can get into the gears and lock it up. new part includes whole new housing for gear box, approx $35 for replacement part.
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