Bicycle Mechanics - Strippet Bottom Bracket

The Bottom Bracket on my bike is all worn out. It rattels around, and grinds under hard peadaling. I want to take it out to replace it. I have removed the non drive side ring with a BB tool, but I cannont get the other side. I have idiotically stripped the teeth of the ring to the point where I cannot get enough grip to remove it with the tool. If you know anything I can do to remove the bottom bracket i would be very appricated. I dont care if it ruins the Botom bracket, because It will be thrown out when i get it out anyway.

Just a reminder, the drive side is a reverse thread, unless you have an Italian BB.

Is it a cartridge BB or a cup and cone? If the latter, you can try Sheldon Brown's DIY BB cup removal tool:
http://sheldonbrown.com/tooltips/bbcups.html

Works like a charm for me. Be sure to soak the cup with penetrating oil, and as stated above, unscrew it in the correct direction. Clockwise for most applications, counterclockwise for Italian and French. Also, if you use the DIY tool, you'll need a low profile deep socket for the inside of the BB shell. Tighten the bolt like hell, making sure the bolt head is on the outside for English thread (clockwise to loosen) or the inside for Italian or French (counter-clockwise to loosen).

An addendum to the Sheldon tool: if you're using lock washers, make sure you discard any that deform as you compress them. I just destroyed the DS cup with my tool.