Replace a prefab and propagate across all instances of the prefab?

Is there any way to swap a prefab for another prefab so it propagates across all instances of the first prefab? Is it necessary to use code to do this?

I tried giving the new prefab the same name and location in Windows as the old prefab, but Unity reset the location of the prefab instances in the project.

I've read you can hold down the ALT key and drag a prefab onto an existing object in the hierarchy to replace it. But this wouldn't propagate across all instances, and also it crashes Unity on my computer.