I find wheelbuilding very theraputic. I started building bicycle wheels first following instructions off the internet. The principals are the same. I think replacing one at a time would be the road to madness and you'll probably need to do just as much trueing afterwards anyway
That being the case, I'd just go with relacing the whole lot and lace it up from scratch then bring it all up to tension. You'll land up with a stronger wheel for it.
I'll echo the advice above about taking plenty of photos and measuring the offset before you start (then at least you can give it to a professional to sort out if you mess up). I think it helps to have an understanding of the lacing pattern and what the spokes are doing anyway so I can recommend reading through Sheldon Browns excellent article on bicycle wheel building. In may ways wht you're proposing is easier because you already know what length of spokes you need.
http://www.sheldonbrown.com/wheelbuild.html
A jig is easy to make to support the wheel once it's laced but I'll often just true a wheel "in-situ". If you have the the rim central and the vertical and horizontal runout tweaked close enough with the hub bolted in the frame it's going to be used in, it's hard to think what else you need to do. I'll build a wheel using nothing fancier than a steel rule clamped across the forks to set the dish and a couple of cut-off cable ties round the fork legs to set the runout. Last bicycle wheel I did like that, I put a dial guage on the rim after I finished just to see. Had a maximum lateral runout of 0.05mm.
Tension is more important in motorbike wheels than bicycle ones so have a ping at all the spokes before going out and do remember to re-true after a very short ride because stuff settles and pings about alarmingly.
Two top-tips. 1) Have a comfy seat so the wheel is supported directly in front of you. So either a raised jig or a low seat. A lot of wheelbuilders will use a piano stool. 2) White background. Its much easier to see runout (the gap between the rim and the cutoff cable tie) with a sheet on the floor.