That's a tough one. What I remember of oleander in a dry, hot environment is that it did not like to break down. Leaves and branches just laid on the ground would sit there unchanged for a really long time (as in well over a year). I did try running a lawnmower over a pile of fresh prunings once in an effort to get something compostable, but that was a lot of work and when it was done I still had to move the stuff with rake and pitchfork...you really don't want it on your skin.
I think letting it dry out completely in the bags is actually your best bet. After it's been sitting for a year, the toxic stuff in it
should be mostly denatured and at that point you could carefully break it up and use it as mulch, or add it to a working
compost pile with lots of greens.