You need to shut down your furnace and allow it to cool down. May take a few hours. There is a shutoff valve to the furnace to remove the water pressure. It might be were the PRV is.
There should be a spigot some where near the furnace to drain the system. If you have an old system that has a metal tank expansion, non bladder type it should be drained once a year. You can drain the system from there.
If the system is completely cold and the rad is on a second floor, disconnecting it without draining is ok. Only the water in the rad would all there be. You can stuff a rag in the pipes to hold back any water. It not
Draining the system can be a headache to get things working again since you have to know how to purge the air from the system. Replacing the one radiator also will need to purge the air.