When I have done this (not often, admittedly) I slide one shoulder off and straddle the tank with my legs. That keeps all the weight together. Best done where there is a bottom but it is possible to do with no hard bottom. Like I said...have only done it a few times, just for practice.I guess that you dive wet.
I dive dry, with pretty heavy undergarments. Even if my belt is almost uncomfortably heavy, my rig is noticeably negative underwater. I wouldn't enjoy having to ditch underwater, because I'm pretty certain I'd be hanging vertically, feet up and head down, desperately clinging to my rig to avoid corking like a Polaris missile.