Step Three: Once our giddy little subject is aloft, advise your friend to start snapping.
Photojojo offers this great idea for an alternative kid shot:
Step One:** Position your friend behind you and the child in front, with your friend holding the camera above your arms and pointing it down toward the child. Select a slow-ish shutter speed of 1/15 sec to blur the background.
Step Two: Spin!
Step Four: Review your photos, and repeat as necessary.
There is of course a flickr group all about spinning your kid around, the photo above is by group member shoothead.