upgrading python on virtual hosting server

[Brian]

Hello,

I have a dedicated linux server with several virtual domains on it.
These domains are chrooted for security. I need to upgrade python and
be able to have it available for all accounts. I am also concerned
that I may muck up some of the server processes that use python. Can
someone tell me:

1) Where should I do the install?
2) How do I make sure that the new version is available to all users?
3) What do I need to do to make sure that current services can use the
new version?

Thank you,
Brian