Thanks guys..i have checked the air filter and it was a little dirty, so I bought a new one. It still was acting the same. I will try the other steps as well...tomorrow!
Certainly try all of the solutions mentioned by the bros, so far. But, if none of those fix it, another thing to try is opening the gas cap when it starts to rev really low. If your gas cap is not properly vented (clogged or otherwise), that symptom can occur. If opening the gas cap makes it rev higher, buy a new $4 gas cap.