First up I'd really advise not to ride the bike with a suspect valve, if it were to break off completely while you were doing a decent rate of knots, loss of control is almost guaranteed because of the sudden deflation.
Wheel off, tire off, then replace the valve.
I guess you could replace the valve with only 1 side off the rim, but why would you? There'd be 1 hell of a lot of mucking around trying to do it like that, the 2nd side is easy as to take off, and, as the first side to put on, it's easy too.