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The answer to this depends on how much the magic device with the oxygen weighs.
Also just going to set aside anything to do with sky diving and space suits and having friends and everything else that I don’t know anything about.
I only know this from playing Simple Rockets on android but basically you direct your thrust in the direction you’re moving in order to reduce your velocity, and you’ll fall down to earth.
Think of an orbit as the balance between falling towards earth and zipping past earth. If you fly past too fast then you just fly past and maybe the gravity pulls you a bit but not much. If you fly past too slow the gravity pulls you down to earth and you crash. If you fly past at the same speed you fall towards earth the two directions balance out and you end up just spinning around earth.
Therefore, If you’re in a stable orbit on the space station, and then you slow down, you’ll start to fall down towards it instead of “falling” around it in an orbit.
If you only slow down a little bit you’ll start moving towards Earth but you’ll be moving way too fast for an unshielded human to enter the atmosphere without burning up.
You’d have to slow yourself down, by directing thrust towards the horizon you’re headed towards, enough so that you’re not going fast enough to burn up.
Whether or not you can slow down enough, quickly enough, depends on how much thrust your magic device can provide and how much that device makes you weigh.
The only reason things burn up when they enter the atmosphere is because they’re moving so fast that the friction from the air generates too much heat.
So yes, if you slow yourself down enough then you could just float down like a feather in the wind.
I have no idea how fast is too fast.