Quote Originally Posted by naithantu
What laegluin said and don't afk next to it and make it so you can turn it off when you aren't using it.
Unfortunately lots of mobs causes lots of lag (minecraft just can't handle it, a better server won't even make it faster :( ).
We usually do worldguard it :]
I had thought of that already, and had planned to work around it. The location I was planning to choose would be some common ground-level Y coordinate (like 60), then I would dig a 2x2 hole down the center as the elevator, and make pads below that area where mobs would spawn while I work up there.

The design I have in mind, unfortunately, is easiest to shut off using lava and pistons. Incorporating redstone lamps would make it a lot more clunky, but I suppose I could manage. or ask for special lava permissions.