Shocks are useless mounted like that. Until the mounting is corrected, housing and crossmember, nothing will work right. The rest of it has potential. Air bags are an old trick on Stockers with coil springs. I don't know what benefit there would be on that set-up beyond covering up for dead springs or carrying a load of firewood without dragging the bumper. Swapping the slappers (I assume they're slappers) for a C-E Adjust-a-Link or Cal Tracs would be money well spent.