I don't know how excatly you are supposed to do it, but the best method I've found is to power break it at 3,100 RPM's so its spooled as soon as your release your brakes. I don't know if launching like that is bad for my car or not, but it seems to work the best form what I've tried,

Powerbraking is what you are referring to when you stand on the brake and bring up the RPM's. It's also extremely hard on transmissions. I found that out the hard way when my overdrive went out after I powerbraked my auto GST one too many times. Mitsubishi Auto transmissions are extremely sensitive come to find out. Be careful, and flush that transmission fluid with some new OE Mitsu ATF III and change the filter when you get a chance. Carquest carries the gasket and filter when you're ready. Make sure you flush it and not just do the traditional filter and fluid fill service. Take it to a shop and have them flush out the old and fill the new. It ensures that all the old, trans eating stuff gets out and only new gets in.

Yea, power break not break torque, doh! What would a typical tranny flush and new filter run me?

Don't tq brake it for more than 5 seconds at a time. It is the heat build-up that causes damage to the trans, be sure to let it cool after you launch.

LOL maybe that's^^ why mine explodered.

Yea, I always give it time to cool down before I do it again.