Yeah it wouldn't hurt. Maybe 20-25 pounds or less, but I've never tried because I didn't bring an air tank with me. Just be sure you don't get on the highway with underinflated tires...
You could only spin tires if you have 4.10's, and dump a clutch. Auto much harder, it will spin only if you don't go around the water box (which you don't need to use).
But yeah, just power brake it, leave it in drive, (overdrive doesn't matter as you won't get into that gear at all), and pedal to the floor. Release brake on the final ready light(just before the green).