Some air tools have basic little valves with knobs like those brass ones for decreasing flow on the air inputs. Pipe dope would probably work, or maybe that yellow electrical tape made for oil and gas? I believe it's supposed to be thicker stuff.
I know you're all about keeping it mechanical, but it sounds like a few ride height sensors and a controller could fix these problems right up and ignore the leaks
Tank is rad, and that cable is funny. Maybe some sort of ground strap because it's not touching the ground?