Air drying is a great way to avoid using direct heat, thus reducing the chance of damage. I air dry my hair in the winter, while I am wearing my protective style. Air drying is also a great option for the summer time, when the humidity may not allow you to wear straight styles.
One common complaint about air drying, is your hair may feel hard and start to break. If this is your experience, try using a creamy leave in, and skip the protein when you condition your hair.