Just like clearing the codes by unhooking the battery. Instead of waiting over night or something like that, I just disconnect the leads from the battery and touch them together to drain the system. I've been playing with the PCM in my Jeep a lot lately and that's quick and easy. Don't bridge the contacts on the battery itself.
While I completely agree that the PCMs memory should be cleared after replacing sensors, with '05-'06 TJs, simply disconnecting the battery erases all long term memory and restores the PCM to factory settings. I had always been concerned about following the procedure you outlined until I found I'd been clearing the long term adaptive memory every time I disconnected the battery.
Next Generation Controller PCMs Page 86:
In an NGC PCM, Long Term Adaptive is maintained in memory by battery voltage; a battery disconnect will cause it to be erased.
Note: Whenever components that affect engine operation are replaced, the Adaptive Memory should be reset. If this is not done, when the engine is started and runs in Open Loop, it will use the Long Term Adaptive values stored while the component was malfunctioning. This could cause rough operation during warm-up after repairs.