FIM Pruning Teqnique

I read about this teqnique, and here is what I understand. You wait until your plant grows buds, and then you snip off half of the bud, and it grow 2 buds in the place were you made the cut. now, here are the questions I have about this teqnique.
1-Am I even close?
2-were exactly do I make the cut?
3-How can I make more than just 2 buds grow back?
4-do the buds that grow back take any longer to grow back than the originals did?
5-how could you explain this procedure to a beginner?

If anyone could answer atleast one of my ques, I would greatly appreciate it, thanx