You could try something similar to what's done in a racing dry sump oil tank. They have several baffle screens at different layers from top to bottom that are filled with many small holes. The oil passes through these and traps the air in the oil, oil gets very aireated in a dry sump system.
You could do something similar but with fine holed screen like nylon screen for screen doors. Attach several layers across the res from top to bottom and as the water passes through the holes in the screen they trap the air bubbles.
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