I would go for, say -XX% impact damage, and high drag. So that the ship takes little ram/ground damage, but still can be nudged a bit. So that the tool wouldn't be op or abused.
I wouldn't want it to have a brand new mechanic. Just percent changes to how a ship operates, like most other piloting tools.
I would want this tested, and given a shot. Or perhaps it evolves into a new strategy against blenders. Chute Vent than Drogue Chute.