The documentation I've run across researching this indicates that the way to do it for other databases is to use multiple statements in your query, a la:
>>> cursor = connection.cursor()
>>> cursor.execute("set session transaction isolation level read uncommitted;
select stuff from table;
set session transaction isolation level repeatable read;")
Unfortunately, doing that yields no results, as apparently the Python DB API (or maybe just this implementation of it?) doesn't support multiple recordsets within a single query.
Has anyone else had success with this in the past?