Inspired by a colleague, I wrote this (for bash):
https://gist.github.com/archi/2a2331401842c0548fa8de0f69796f...
> up 4
go up 4 folders (=> "cd .." 4 times).
> up
goes up one folder, and you can repeat pressing ENTER to go up one more. Press anything else to drop back to the shell.
Could probably be "better" (e.g. no subshells), but works well for me.