I usually age my hard cider on the lees (because I just don't want to mess with the methode champaignoise or whatever), which is also done with Champaign as well. But, you really don't want to leave all the lees in the bottom in a thick cake. You wanna drink something that stinks like dog crap? Your chances are far better if you let it get mostly fermented, and then siphon it into a different clean container, leaving the thick nasty crap in the old one. I suppose if you simply can't spend $1.37 on a piece of tubing for a siphon, or don't have an old fish aquarium laying around with some tubing you could use, you can carefully pour it into the new container, but this risks getting too much air.
Likewise, I think your chances of success would be greatly improved if you used some kind of seal rather than cheesecloth. Again, if you can't spring the three dollars for a fermentation lock, poke a hole through a cork/stopper/lid and insert a bendy straw. (short end in the cork) Then put the long end into a cup of sulphited water to provide the seal. Be creative.
I do see it is perhaps a false economy.
My last batch of cider was stupendous, but really I think I've had just as many bad ones as good. And I've been trying to adhere to sound practices, too. (I think the 30 year old metabisulfite I'd been using had lost its potency over the years or something.) How many hours do you have invested just thinking and dreaming about this? After months of waiting and hoping as it ferments, you don't want to find out it's undrinkable.
With all this talk of exploding containers, you really need to get a hydrometer. You need to bottle when it has just enough sugar left to provide carbonation without exploding. This is very difficult to guess, but very easy to measure with a hydrometer.
But, if you're still wanting to scrape by without one, here's a tip. Bottle your brew into empty (and thoroughly washed) 20 oz plastic soda bottles. They can withstand a huge amount of pressure, but if they feel like they're getting too tight, you can just unscrew the cap a bit to release some of the pressure.