I know how to add a co-administrator via the portal, but need a way to add it via PowerShell.
I need this method as I have lost access to the login id, but have the
Unfortunately you can't. Azure PowerShell Cmdlets are essentially wrapper over Azure Service Management API and currently the API does not expose any method to add co-admins programmatically.
Azure have rolled out Roll Based Access Control which will allow you to automate the adding of new admins to your Azure Subscription. Intro here: https://azure.microsoft.com/en-us/documentation/articles/role-based-access-control-configure/
You would add a new user as an Owner at the Subscription scope. These operations are available using both PowerShell and REST