Some engines have real problems with trapped air. As Art said, it doesn't seem to be an issue with the TR3 at all. Fill it to the normal level (which is the extension only about 1/4 full), start the engine and let it idle until the thermostat opens, then top it up (again to the normal level).
How often to change depends on the coolant you are using. The old 'classic' green antifreeze is only good for about 2 years if your goal is zero corrosion. Some of the newer formulas are good for 5 years, but may have other issues. I've been trying Prestone's "any color" Extended Life but so far I've not gone long enough without some sort of problem forcing a change to say if it really works for 5 years. I've read that "Dexcool" is probably a bad idea, but have no experience with it myself.
Aluminum is way over to the left on the oxidation potential chart, meaning it is the metal that will corrode away if electrolysis is allowed to proceed. On a stock TR3 of course, the thermostat housing is aluminum, so that will be the primary corrosion site. Practically every Tstat housing I've ever seen has at least some damage; and some were so thin you could almost see through them.
One you probably could see light through, as the previous owner had "repaired" it with some sort of translucent epoxy that promptly failed when I tried to drive the car from TX to CA. Fortunately, the FLAPS we found had a housing that would fit and work, sort of, so we were able to complete our trip.
As a data point, the original copper/brass radiator in my 95 Buick wagon lasted until 2010. My radiator guy suggested sticking with copper, even though he would likely have made more money on the aluminum one; which was good enough to convince me.