Coming,as they do,from the Himalaya region of Asia,Rhodies are quite tough resiliant shrubs.
We have just (in June) pruned a VERY large Rhodie which was cutting light out of our sitting room window,and blocking the view of our main flower bed.
When I tell you that this Rhodie was about 25 feet across,17 ffet deep and about 12 feet high,you will see why we HAD to prune it!(and this is a hybrid too)
Well,it's done it no harm,in fact it seems to quite like it.It has already covered itself in a layer of new leaves,and seems no worse for the pruning.
Of course we realise that we may get few (or more likely no) flowers next Spring,but it's worth it for the light it lets in.
BTW,we pruned it back to about 3 feet from the ground.
So,just prune it back as much or as little as you feel like.I am sure it will not take long to recover.
If you don't want to be pruning again in 3 years or so,DON'T feed them,Rhodies are hardy and flower bettter(and don't grow as quickly) if not fed.
As far as when to prune.Do it as soon as possible,not later than the end of Septemeber.This will give the shrub time to put on some growth for the new year,and who knows you may get some flowers too.