There is no way you can do an exchange transfusion through a regular central line. Think about it: it's like dialysis. You take as much blood out as you are putting in. A dialysis catheter is necessary.
UpToDate (an excellent resource by the way) has this to say: Exchange transfusion is recommended in the setting of progressive infiltrates and hypoxemia refractory to conventional therapy. Reduction of the HbS level to below 30 percent, along with a hematocrit of approximately 30 percent, can lead to marked improvement in the majority of cases [37,38]. Unless thromboembolic phenomena are documented, empiric anticoagulant therapy is not recommended because of the potential risk of intracranial and renal bleeding.