With either approach you run the very real risk of losing paint, insert text or both. So if you are not comfortable with repairing the damage, I would leave it alone and see if you can cut out the bubbled areas with an exacto knife. Then you could buff out the remaining mylar and even add a playfield protector for more shine.

The system 11's I have done in the past, I did with heat. For example the Space Station lost much of its insert text, but was repairable with the insert decal set. The mylar glue that was left eventually came up with alcohol and a plastic razorblade.

It definitely can be done, but just be ready to deal with the fallout that will most likely occur.