They crash rapidly because of hyperkalemia, rhabdomyolysis, and adidosis..
Relieving the compression "returns" the compressed area to circulation. When that happens, the potassium, lactic acid, and myoglobin that has built up the stagnant blood rushes into the central circulation. The myoglobin you don't have to worry about... but the patient might later require dialysis due to kidney failure from it. The hyperkalemia and acidosis is something that can kill the patient right NOW. So you treat that with additional buffering (bicarb) and albuterol (drives K+ back into the cells), and fluid - to dilute all that stuff that much more.
Inhospital treatment may include dialysis, damage control surgery, further meds to control hyperkalemia, and attempts to keep the blood in a normal pH range... Beyond that, I am not certain as I do not work in a hospital... nor have I followed crush injury patients...