It's generally accepted that at about 217 feet air becomes toxic. Go deeper on air and do so at your terminal peril. A fast descent to about 200 on air with controlled ascent using recreational limits is totally dooable on a normal size tank as a first dive (i.e. no residual Nitrogen). The risk in this dive is the narcosis that you WILL experience. Tunnel vision. Potentially magical thinking. Lack of focus. Now, on their own these things aren't that big of a deal and can be fun, but when you are dropping like a rock and supposed to be paying ABSOLUTE STRICK UNWAVERING attention to your depth gauge, narcosis can be deadly. In sum, don't bounce unless you go with an experienced diver who understands the physiology and has some emergency diving experience.
Without reference to personal beliefs vis a vis whether bounces are dumb... Thoughts or concerns of a technical nature would be great.