another option might be, to swap out your Z axis stepper, with some kind of straight motor, with on/off control, have your load cell trigger the Motor on, and off.
another option (depending on how much money you want to do), you could just set an Air Pressure cylinder and set the pressure for that cylinder to what you need your compressor would keep that amount. you could user your current pressure cell to drive the on/off of the solinoid that would open close your piston to push your stuff.
you could use other options as well, analog devices with modbus, or other things like PoKeys, etc., I guess it all depends on if you makeing money with the machine or not.
I think cutting on/off the Z axis while mach thinks it is running, your going to run into accel/decel probs..
scott