With a Bayraider, don't forget the effect of the mizzen.
2 or more handed, I think I'd start by furling the jib. Lower the CB half way, otherwise the boat may not steer. Ride the next gust or wave to give maximum boat speed (= minimum apparent wind). Then round up into the wind with the mainsheet slack, and as the heeling pressure comes off, lower the CB completely, and sheet the mizzen in. With the mizzen in tight you should be able to drop the main with the boat kept head to wind. Finally unfurl the jib and sail off again.
I have only heard of drogues being used as an aid to ocean sailing, with plenty of sea room. I agree with Peter and Steve. Also, in confined waters and ports there's quite a risk of snagging another boat or buoy with the drogue, which will only add to your problems.
