Dogs are not trained to do both bombs and drugs... they only do one or the other. So, that being the case, any dogs you see at airports are most likely bomb sniffing dogs, not drug dogs (at least in U.S. flights).
So you don't really have to worry about dog smell, only human smell. Plus you would be able to see if dogs were at the checkpoint and you could go put your bag back in your car or trash it before going through the checkpoint if you were uncomfortable.
You should be fine if you wear latex gloves and bag it just before you leave for the airport. Take the gloves off and then bag it again (so there is no "residue" on the outer bag). Then maybe even bag a third time. That would probably even keep a drug dog from smelling it for a little while (long enough to get through security... but again, you don't have to worry about drug dogs at the airport).
With my luck the first and only time I would get my pockets searched while flying would be when I have bud! So if I were going to do it, I would bag it as I described and I would just tape the bag between my ass cheeks (after shaving my hairy ass of course!)... just in case I got patted down for some crazy reason. I would wear extra tight athletic underwear too, in case the tape came loose. (No need to have that come out of my pant leg while walking through the airport!) There is no need to actually put it *in* your ass... they aren't going to strip search you.
If I was going to be gone for a while and wanted to take a good amount (more then a quarter oz.) then I would make hash... that way I could get an oz. down to the size of an eighth or a quarter or so.