I wouldn't try it with the z bar on, prolly cause more hangups than you'd want to deal with. As far as installing the bushings, when I did mine I stuck the halves onto the ball with grease and slide the tranny side in first, then with the frame side ball removed from the frame, grease the ball, stick on bushings, insert ball into z bar then work the ball threads into the frame spot and viola, installed z.
I am sure someone else will chime in here as I am NOT the ultimate authority in these matters.