I changed my leaky balloon thingy on my 04 Disco last year. Took me about 15 minutes and I didn't even have to remove the wheel. I didn't have to deflate the bag because it was down on the bottom anyway but I think if you jack the body up not the axle and then chock under the body, slacking the airline on top of the bag will safely release any pressure left in it......
Have you looked at...
1. jack the car up by jacking on the rear diff, support the chassis with stands, leave the jack under the axle.
2. remove the compressor cover on the nearside chassis rail.
3. disconnect the pipe to the nearside air spring, its the pipe that is closest to the outside of the car, air will rush out as the spring deflates.
4. lower the axle using the jack under the diff just enough to allow access to the top of the spring.
5. remove the two clips at the top of the air spring and compress the air spring by pushing down, then remove the pipe at the top of the air spring.
6. twist the spring 90 degrees (its on a beyonet fitting) and lift out.
7. fit the new spring by slotting in and twisting 90 degrees.
8. connect the pipe, careful not to cross thread it as its only screwed into plastic
9. raise the jack till you can get the clips back on the top of the spring.
10. reconnect the pipe at the compressor valve, again careful not to cross thread it. refit cover.
11. start the engine and wait for the spring to inflate, if it doesn't, raise the axle by using the jack on the diff
12. once inflated, jack car up and remove stands
13. remove jack.
14. you're done!!!