From my previous post; I wrote a simple article about how to be safe on TinyURL.
Bit.ly offers the same thing.
Here's how to be safe:
Am pretty sure already know how Bit.ly works.
1. If you have the shortened link (eg: http://bit.ly/Is3ZG > This is a link to Three Ways Twitter Security Fails)
2. Copy the randomize character and numbers at the end "Is3ZG"
3. and goto http://bit.ly/info/<the randomize chars and nums> (eg: http://bit.ly/info/Is3ZG)
Now, go ahead, and try it your self. :)