Over a year back I put a new Sherry into S/H using Ray's guide, sort of. The plant was basically a mass of rotted roots with lots of actively growing aerial roots much like you describe. Currently its outgrowing the pot I put it in.
Anyway, what I did is I cut back all the brown rotted roots until I could see the white bottoms of the bulbs and planted the aerial roots into the shallow area of a temporary pot in hopes of keeping the bulbs from shriveling from a lack of moisture. I applied heat on the bottom of the container. The aerial roots lasted the plant long enough for new roots to grow. I unpotted the plant one last time to confirm this and removed a few unhappy aerial roots that didn't like the transition. This hybrid seems very forgiving so I doubt you'll mess up especially with this forum.
Here's some photos of this procedure.