You don't get out much do you?

Been around for years: Lifted trucks, huge tires, hydrolics, air bags, lowering springs/control (camber)arms, big wheels, big brakes, c-notches.......There's nothing illegal about any of those if done properly. As for a bag blowing, it's not as bad as you think. A friend had one blow, and it wasn't anything to freak out about. He just had to fix it on location because he was dragging a corner of his bumper. Hell, you could have a spring break, too. Ever seen a leaf spring break? Not cool, lots of damage. There's not a material in the world you could use there that would be 100% guaranteed not to malfunction.
*there are also tires designed specifically for cars of +/- camber also