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It is pretty straight forward if you can remove the bushing and press in a new one. Some have managed to do this without a press, using hammers, C-clamps, etc. Some folks burn out the old bushing with a torch and then cut/hammer out the steel shell using dremel, hacksaw, etc. Careful not to ruin the A arm if this is your method.
I use a $100 Harbor Freight 12 ton shop press for bushing work. I have an assortment of metal sleeves and sockets that I use for receiver tubes and drifts. Thus far, it has never failed to work. Removing the control arm assembly is pretty simple. You then press out the old and press in the new. You "might" want to consider doing the smaller front A-arm bushings at that mileage. They last a LONG time, but approaching 300k, they are probably wearing out as well. Much harder to remove without a press. Be careful not to crack the A-arm (BTDT).
There are a few tricks upon reassembly- you have to get the bushing on the car in a neutral position or it will wear out quickly. Volvo recommends final torquing done on the car with wheels on the ground- this is hard to do in reality, especially on the RT side. Basically, you have to get the control arm and the bushing cup assembled and torqued in the "neutral" position before you put it on the car.
Good luck.
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