I'd guess about 1- 2 gallons--thats about how much leaks out of you pull it out without draining it first......if it's in an spot where you can access it pretty easily,you might be able to just remove it and have the new one ready to go,and stab it in quickly,before you lose much coolant..
If it's an electrical sender its best not to use teflon tape or a lot of pipe thread sealer on the threads,it can interfere with the good ground it needs to work right..a little dab is enough..