So you have to unwrap all the line before inflating?
Sounds like an accident waiting to happen.
I use the same system of wrapping 25-30' of 2mm cord around my sausage. I have a boltsnap on end of the line. To deploy, I simply pull the boltsnap out from under the wrapped line and let it drop. As it falls (obviously this need to be in water deeper than 40' or so) it strips the line off the sausage. I then orally inflate the sausage and let it go, letting the line slip through my circled fingers.
Although it sounds like the line would be a problem when surfacing, in practice it just takes a few seconds while the boat approaches to partially deflate the sausage, fold it over double, and wrap the line back around it, making an overhand knot with the last turn so the line doesn't spool back off when I hand the sausage up to the boat crew.
Alternatively, if I spend much time doing the final ascent I simply wrap the cord up around the boltsnap -- ending up with a ball of cord about 1" in diameter. While using this method I arrive at the surface with no line to handle, it is a bit tedious unwrapping the zillion turns during the SI, so more often I use the "wrap around the partially inflated sausage upon surfacing" method.
The 4x44" sausage, 30' of 2mm cord, and the boltsnap roll up into a compact cylinder 5" wide and 2 or 3" diameter and fits very easily into my BCD pocket. So handily in fact, that it resides there permanently and is with my on each and every dive.