The Collaborative International Dictionary of English v.0.48:

Episcopize \E*pis"co*pize\, v. t.
   To make a bishop of by consecration. --Southey.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Episcopize \E*pis"co*pize\, v. i.
   To perform the duties of a bishop.
   [1913 Webster]