I think the dry yeast manufacturers have a fairly specialized system for drying healthy yeast. It may be possible to duplicate their methods more or less, but freezing is very likely a lot easier and they equipment is not hard to get, nor is it expensive.
And the stuff I think you mean is Glycerine, which is found at a pharmacy. Glycol is a coolant. They use it to chill jacketed fermenters, among other things.