Really, the same thing has to happen whether is on jack stand or on a lift. The back wheels are off the ground and the cradle is hanging free. You might consider getting an under hoist jack stand
https://www.harborfreight.com/2-ton-...and-61600.html. I did mine with a 4 post lift but still had to lift the car off the wheels.
I'm not sure about how much clearance you need for the tool. When I installed the BMR bushings I used the heat method and followed the other DIY threads and disconnected everything. I would think with the tool you still have to get the thickness of the stock bushing worth of clearance, maybe even more. I swapped the BMR for solid last week and was able to just unbolt/loosen the subframe enough not get the 2 piece BMR out and the new ones in.