Replace a failed Domain controller

I need to replace a failed or failing domain controller
hardware. This domain controller is the global catalog
server as well as the Exchange 2000 mail server.

I thought I would create a parallel domain with the same
name on the new hardware, take the failing server
offline, take all other servers down then have the
existing servers re-join the newly created domain.

Any suggestions or advice on replacing domain controller
hardware in primary roles and active directory?