4 years ago I had 2 really bad dislocations back-to-back, one in the fall playing football and the second in the winter while skiing, both on my left shoulder. I subluxed a few times in the spring after that, and I honestly thought my shoulder was shot; even contemplated giving up park skiing and football altogether. In the end I quit football anyway because of concussions; smartest thing I ever did. At the time the insurance I had through school didn't cover major operations/reconstructions, so surgery just wasn't an option.
Thankfully even after football was over for me, I still had my college's PT staff at my side to walk me through recovery. The exercises we all know so well DO work, it's just a process that is going to take longer than you want it to. Also, ICE LIKE A MOTHERFUCKER. After every PT session, do it; yes it's a pain the the ass, but it helps.
If you have access to one of these things, even better:
My advice would be to take the entire year off from 'competitive' skiing. Just cruise, do fun shit that doesn't cause pain, stuff you know you'll land (cossacks, cossacks, cossacks!). Work on style and small progression; learn unnatty slides, all 4 180s, etc., these types of things I never even thought of learning until my injury, and now that I'm back skiing hard they've helped my all-around game tremendously.
If you do choose to forego an operation, treat your recovery exactly the same as if you had one. Just to give you an idea of the timeline you're looking at, it took me almost 2 years after my last sublux to even be able to sleep comfortably, and another year after that to be able to take hard falls without feeling that burning 'fuck my shoulder almost gave'-type pain.
There's alot of disagreement in the PT community over whether braces actually help recovery, or hinder it. I personally believe the latter. Unless you're talking about ACL reconstruction, in most other cases they're just a crutch. Your body will eventually be able to compensate without one, it just takes a lot of time, patience, and dedication.
I'm no doctor, but that's my personal experience on the matter.
Good luck OP!