You should try the Air Olé 360 after you are comfortable and consistent at using the line to spin during the normal Air Frontside 360. The Olé should be tried around 23-24 mph, as you'll need a bit more air than a normal FS 360 since the spin takes a bit more effort and does not happen as fast. 70-75 feet of line should give enough line tension while learning this trick.
What are the key difference between the Olé 3 and the Frontside 360?
After the jump-drift, the Olé 3 requires a bigger initial pull to get the spin going, since you won't be able to pull the handle all the way across your back. Also, the bigger pull advances your body toward the handle more, so you have enough line slack to whip the handle over your head.
At the 180 degree mark, it is best to push on your feet a little bit and to turn your head and shoulders forward to help torque the spin all the way around.
And of course, there is no handle pass, but that really becomes irrelevant, as long as you initiated the spin properly and help maintain the spin after the 180 degree mark.