My 2004 Discovery HSE recently got a problem where the air suspension in the back will completely deflate (which makes for a very very bouncy ride) and when I press the button to bring it back up it just kinda beeps and the light on the dash flashes, I'm wondering how I can fix it and make it stay normal. My car is completely stock.

 

Do both sides deflate? Does the suspension come up to normal ride height when you start driving? Do you hear the compressor running?
It could be something as simple as an air line leak. But equally possible is that the compressor has failed, or its control system.

 

Both sides deflate. It stays down most of the time, sometimes it will come up to normal then just go down again, I don't hear the compressor but I normally don't anyway

 

Seems unlikely to be leaks in the suspension bags themselves since both of them deflate. It sounds to me like something is amiss with the controller. You might have to bite the bullet and get a tech to look at it.

 

have you checked fuses?
the compressor is under the truck below the driver seat,
you should be able to put your hand on box to see if its running.