Just worried if I lost all air while riding it would gut my stretched fender.
That sounds expensive just to save money on shocks. You need some better shocksdude, if it lost air and bottomed out, you'd be F**KED. Be like hitting the brakes except your tire is the brake! And yes, depending on how low your shocks go, at the minimum you'd get it hot and burn the paint. U need shocks that are a lil longer or a lock out system that prevents it from going all the way down. Imagine if you lose a compressor, an air line or a valve... how bitchen will your air ride be when you crash it, ruin your paint or can't ride it any further?
Tim