Hi I think it is not possible to answer this comprehensively unless you share some characteristics of your aeration tank eg. temperature, MLSS, TDS etc
I agree, should study even the species content, what creatures are living their. We did such work after Chernobyl atomic station accident (or catastrof) in Kyiv (Ukraine), with purification system of Bortnichi, to find possible consequences of radiation on biota. You can see the materials of a technical report on my site in RG. It is in Russian but with good English Conclusions, as well perfect faunal lists. May be help you. if you want can send you some identification keys (but for Europe, not sure that will be good for your country).
If you want to increase the DO in aeration tank, why don't you simply install more air-blowers? I haven't seen anyone who add chemical to increase DO in biological treatment.
Hi I think the you should use air blowers with a capacity to supply the required amount of oxygen you need. Chemicals that increase the DO may have effect on the microbes activities.
Probably a pre- aeration treatment chemical like H2O2 or other oxidants like, ozone, chlorine dioxide injected at headworks, equalization tank, to Then you will have to look at cost effectiveness.
Then you physical methods like changing the diffuser type, if it is coarse bubble, convert to fine bubble diffusers with existing blowers or some other type like claimed below: