You're never getting a 1st for Long in that position. You never tag expecting a trade. You certainly are open to it, but you don't do it NOT expecting him to be on your team otherwise if you have already put into motion the "replacement plan" into place other teams will realize this and you have a game of chess for value vs perceived value.
"Why offer a 1st when the team wants to dump his salary and just get value? Offer a 3rd. They'll bite!" - That's the mentality every single team interested in Jake Long (which, we are not sure is a very strong market, by the way)
A friend brought up a good point recently when discussing Jake Long. If Ireland is still around, he thinks he keeps Jake Long, simply because it'd be impossible to cut the player they drafted over Matt Ryan. You have to keep some semblance of delusion that Long is still playing at an elite level and pay him as such.
If Jake would take a re-up on his current deal, I'd probably do it. Even then it's a bit much, but why mess with what appears to be a great thing.