I can't imagine putting a cup in so tight that you would need this, but Sheldon Brown has a DIY tool that will eliminate your grip problem.
Look here:
http://sheldonbrown.com/tooltips/bbcups.html
under "Fixed Cup Tools"
I used this to get the bottom bracket out of a rusty old Gitane I bought. I had to apply enough force that it left a deep imprint on the washer and bent the threads on the bolt, but the cup eventually came out. I'm guessing it would be much easier than that for your situation. Of course, you probably need to get the bottom bracket threads chased when you're done.