Air is only about 14% oxygen so unlikely that bubbling air through your wort will be particularly effective..normally you'd use a cylinder of pure O2 through a carb stone. Also probably not worth oxygenating at all for normal Homebrew batch sizes say upto 80 or so litres, and just giving things a good splashing as you pitch into the fermenter or a good vigorous agitation with the paddle after transferring perfectly suffices especially and do a better job of exposing more surface area of wort to air than just bubbling air up from a compressor.
These days, even on my larger 80 litre system, a good splashing as its transferring into the fermenter works a treat, usually have yeast kicking off within 24hrs. If I thought additional oxygenation was necessary or beneficial then I'd just get an oxygenation kit...they're not that expensive.