You're going much too fast to hit the earth, you'll miss it and continue in orbit. To deorbit, you'll need a lot of things to throw in the other direction, like the oxygen from your magic tank. You'd need about a full rocket full of oxygen (~170 tons) to slow down, probably more because the exit velocity would be slower than a rocket.
The other issue with this scheme is you'd slow down too slowly. You'll start getting slower and lower, but you'd start to get into the atmosphere, which because you're still going so fast would cause you to not have a great time. So your magic oxygen bottle will also need a massive tube off the end of it, maybe a couple meters in diameter.
But if you had your magic infinite air tank with a huge tube off it, theoretically you could get back down to earth safely with just it, a space suit, and a parachute.