Come to a stop. Make sure traction control is off. Hold the brakes. Brake torque the engine then release the brakes long enough to get the rear wheels spinning then drag the brakes just enough so the car slows or stops with the rear wheels still spinning, then feed it more throttle balancing wheel spin, rpm such that you don't overrev and holding just enough brake to hold the car in place or let it move slowly. You may want to let it shift into second.
Once the smoke gets so you can't see you might want to stop the burnout.