Sometime soon we will need to make schema changes to our production database. We need to minimize downtime for this effort, however, the ALTER TABLE statements are going to
You might want to look at pt-online-schema-change from Percona toolkit. Essentially what it does is:
Works very well for single instance databases, but might be quite tricky if you use replication and you can't afford stopping slaves and rebuilding them later.
There's also a nice webinar about this here.
PS: I know it's an old question, just answering in case someone hits this via search engine.