This week's book giveaway is in the OCMJEA forum. We're giving away four copies of OCM Java EE 6 Enterprise Architect Exam Guide and have Paul Allen & Joseph Bambara on-line! See this thread for details.
That's a strict no-no, as it's going to bog down the computer with painting events. Another no-no is inclusion of any business logic in painting methods, and I suspect you have that too. Then, I see two successive calls to repaint() at lines 81 and 82. Why?
edit: You hve a call to g.create() at line 6 but you don't assign the value to a variable. The result is creation of a Graphics object that is never dispose()d, wasting resources.
You also appear to be using parallel ArrayLists, and the code contains a lot of magic numbers. I strongly suggest you OOPify your code by creating a class that represents the parameters of an Equipment and knows how and where to paint itself.
You can get some coding ideas regarding the above, including dragging of shapes, here.