The multiplier chip I linked to will do the job. How to configure it for division is shown in the manual.
The catch may be that it's operation is instantaneous.
So if your 2 input AC signals aren't syncrhonised then your output will be AC as well. Even if they are synchronised, there will be substantial noise at the zero crossings.
You may need first to convert your AC signals into an RMS type average, in which case use a suitably configured op-amp circuit to convert the signals before passing them to the divider circuit.