Get a work stand, this is a good one. Everyone has their method and to be hoonest their is no wrong way other then using a pressure washer.
Get you a bucket and some soapy water and wash the frame really good from top to bottom. Take the wheels off and use something of your choice to clean the wheels and brake tract. Clean the brake pads too, or sand them if glazed. You can remove the chain if you want but you can also get it clean without removing it. Rinse the bike with a hose and wipe dry. Others will add to it, but you don't have to completely take everything apart.
really good solid work stand
http://www.performancebike.com/bikes...400152__400152