Yes you can do "the rope trick" and replace the seals with the head still on, provided you have a valve spring compressor tool designed for that sort of operation. I prefer using the rope because it gives you a firmer push against the valve than compressed air.
You can check the condition of the valve stem seals before taking them apart, just take the valve cover off and use a strong light to inspect the seals inside the springs. Are they all intact? They look like little black umbrellas inside the springs. When they get really old they get brittle and pieces begin to break off and find their way into the little oil drainage valleys in the head, and into the block and oil pan. If they are all intact, use an uncurled paperclip to gently poke at a few of them through the springs- are they still kind of flexible or do they feel hard and brittle?
If they are all intact and feel kind of flexible then they are not your problem. More likely it is valve guides or rings.
If they are broken and/or brittle, you change them by using the rope, using the tool to compress the spring, removing the keepers (they are held in place by the spring pressure, so they will fall off when the spring is compressed), uncompress and remove the spring, then just slip the seal off the valve stem and slip a new one on. There are no keepers on the valve seals, they are held captive by the spring retainer, which can be reinstalled when the spring is compressed. Seals can be bought in bulk at most auto parts stores for about 25 cents each.