I ended up finding this on another message board. It's pretty basic but at least outlines the procedures. Another post on the same thread made an interesting point. If you're no longer under warranty it may be best to just pay for the dealer to do it and then it will be covered under the 2 year parts and labor warranty, in which time it will most certainly fail again.
1) Drain and remove fuel tank.
2) Remove fuel pump unit from tank.
3) Lift filler neck, disengage fuel sensor and lift it out of tank.
4) Because new sensor has to be calibrated DRY, connect sensor to fuel pump while pump is removed from tank.
5) Reconnect fuel pump to bike electrics while the pump is still removed from the tank.
6) NOTE: Battery must be fully charged and bike connected to charger while calibrating. Procedure will abort or misfire if voltage drops below 12.6 V
7) Start BMW diagnostic system, initiate CIP program, and follow its instructions to calibrate. Disconnect diagnostic system, then charger when done.
8) Install fuel level sensor in tank. Reassemble everything.