Hi austin22re,
Welcome to the Apple Support Communities! I understand that your MacBook Air is rebooting when it wakes from sleep. Without knowing the specifics on the alerts you are seeing, I suggest reading and working through the following article to isolate and resolve what may be causing the issue. I suggest reading and working through the entire article, but the Isolate hardware or software as the cause of the issue section I think may be most helpful.
OS X: When your computer spontaneously restarts or displays "Your computer restarted because of a problem."
http://support.apple.com/kb/TS4636
To try to figure out if the issue is related to software or hardware, use the computer with a fresh installation of OS X on an external drive.
- Start the Mac from OS X Recovery. If a kernel panic still occurs when started from Recovery, there is likely a hardware issue. See the "Hardware troubleshooting" section below for additional information.
- Open Disk Utility and use "Repair Disk" on your Mac's internal hard drive (named Macintosh HD by default).
Important: If Disk Utility is unable to repair the internal drive, you should back up your important data immediately and if possible, reformat the drive. Consider bringing the Mac to a Genius at an Apple Store or an Apple Authorized Service Provider for further diagnosis. Be sure to ask that, if the drive needs reformatting or replacing, they contact you about escalating your case to a special data recovery service. If you plan to visit an Apple Retail store, you can make a reservation (available in some countries only).
- Connect an external drive with at least 10 GB of free space. Note: Make sure the external drive does not cause kernel panics, and is the only device on its USB, FireWire, or Thunderbolt port. Connecting the external drive and its cables to another Mac can help make sure the drive does not cause kernel panics.
- Install OS X on the external drive.
- Start up from the external drive.
- Use Software Update to install all updates until it reports "Your software is up to date."
- Don't install additional software on the external drive, but instead use the Apple applications to surf the web, view QuickTime movies, email, print, scan, and/or other activities. Continue using your Mac for the amount of time it would usually take for the issue to occur.
- If a panic occurs, select the "Hardware troubleshooting" section below to further diagnose the issue.
If a panic does not occur, select the "Software troubleshooting" section below article to further diagnose the issue.
I hope this helps,
-Joe