I did that with the Rancho 9188's 2 years ago, since they were too long under compression as well. The problem then is that the shock is too short at extension, and the upper arm never makes contact with the droop bumpstop. Rancho claims a compressed length of 8.4" but it's actually well over 9 inches when you include the bushings. Very misleading advertising.

Right now I'm back to the stock shocks with 2 bushings stacked on the underside of the top mount. That gives them enough extended length, and the rubber may compress enough to stop damage during compression. They should last until I find a solution (looks like new hoops is the way to go).