I would wait until you can move it outside and it is showing strong growth. It is an evergreen tropical, so the fact that it dropped all its leaves is a sign of environmental stress of some sort or other. You need to allow it to fully recover, or it may not be strong enough to successfully air-layer.
Also... you didn't say what kind of air-layer you are planning to do. Air-layering off the top of the tree, while leaving branches and foliage beneath the girdle, is much less stressful than doing a ground level layer (girdle below the lowest level of foliage).