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I've done this on a zillion cars, but not a Z06. I don't think the sequence is really important. The important thing is to flush all the fluid and not let the master run dry. Otherwise you pump a lot of air into the system that can take a long time to bleed out.
Siphon as much of the old fluid from the reservoir as you can. Remember, it is divided into two separate reservoirs, front and rear, and due to the baffling, one may be tough to siphon. Figure out which one this is and bleed that end until it is almost empty, then fill it up and continue to bleed. I usually start at the rear and go back and forth between the two sides every six to eight strokes until the exiting fluid is clean. (Check the reservoir frequently, so it doesn't run dry.) Then I go to the front, bleed six to eight strokes per side until the exiting fluid is clear, then go back and do the rear for a few more strokes.
Typical automotive brake systems hold close to a pint of fluid, so you want to bleed through at least a quart to be sure that it is thoroughly flushed.
You need a helper to pump the brake, of course, and a second helper to watch the reservoir and refresh it when it gets low saves time. Place some damp rage under the res so any spillage is soaked up. (Glycol based brake fluid is water soluble). Any big spills should be rinsed with water ASAP as it can marr paint.
Danny,
Some back yard mechanics can bleed brakes a zillion times and never get it right, the best bet, when its your brakes and your corvette only take the word of the service manual not the word of a mechanic that takes three people to bleed brakes.