An adjustable vehicle suspension system includes a plurality of damping members and an air spring operatively associated with each of the damping members. The suspension system also includes a compressed air source, a valve assembly, and a controller. The compressed air source is in fluid communication with each of the air springs. The valve assembly is operatively disposed between the compressed air source and each of the air springs. The controller is operatively associated with the valve assembly for selective activation thereof. A user can selectively adjust one of a damping rate of the damping members, a spring rate of the air springs, and a ride height of the air springs, such as by using a control panel. A method is also disclosed.