Oaks are a bit difficult to collect, they have a reputation for not airlayering well, and any value in this one will have to be added entirely by you. Decide for yourself what your time's worth. If you choose to move forward, I'd plan to collect it over 2 years. Spade it roughly where you'd want the rootball (...or spade half of it) and leave it. Then next spring, dig it out. In the meantime, I'd chop it 2-3" above ground to create some movement and let the vigor it's built in the ground help it regrow/heal.
You could likely have a more interesting trident in half the time it'll take you to get there with this oak ...but everybody's got a trident. That said, very few have oaks because it's not easy. Consider whether learning the hard/slow way is the best way for you.
I'd pass, but you've seen my yard. If you decide to move forward with it, keep us posted.