You get cracks in the wood when drying, from stress...literally, one portion of the wood dries faster than the rest, and the tension causes it to split. So the key is to dry it as evenly as possible.
My suggestion is that if you want to use this as stock for a table, you should have someone with a portable sawmill come over and slice the trunk into slabs for you. Then coat the ends with a sealer, when you stack the lumber for drying. (The attic space above your garage, or shop, would be a good place for this.) Depending on moisture content, it can take weeks, to months, to air dry oak to a desireable level. In the furniture industry we bring the moisture content down to around 6% to 8%, here in North America. This prevents most checking and other defects after the wood has been worked. It is important to note that air drying will not bring most lumber down to this moisture content level. Common practice is to air dry for a period and follow it up with kiln drying. Air drying red oak, at 4/4 slabs will bring it down to about 20% moisture content in most locations - how long it actually takes depends on where you live and what time of the year you start, but you can expect it to be around 4 to 8 months, at a minimum. Most woodworkers will give it a full year, for every inch of thickness, for best effect. Kiln drying also serves to help kill off all the little critters that live inside the wood, so, I would suggest you finish off with kiln drying. Talk to your kiln owner/operator about scheduling.. or you may opt to build one yourself. Heated kiln drying is the method that kills insects, using a humidification system is another way to dry lumber, but it will not kill the critters.