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Probably best to do when cold or only warm - don't try after its been run for any more than a minute or two! Remember this...
1. Undo radiator cap.
2. Put a large pan under the lower radiator hose.
3. Undo lower hose, spilling old coolant into pan (or on grass if you like).
4. Hose out the lower block and the radiator from this point.
5. Reconnect hose, refill radiator, run motor, check coolant level, refill as necessary.
You can also use proprietary 'radiator flush' compound that you can put in for 10 minutes or so of run time, but I think it is unnecessary.
I just happened to flush my coolant system today.... I used a name brand quart of 'coolant flush' and several gallons of distilled water.... There are 10 different ways to skin this cat, the below link talks of some of them.... If you have the stock radiator it wont have the petcock drain....... So you have to remove the lower hose...........If you have a badly corroded coolant system, with alot of rust and muck, one quick rinse flush isnt going to help you much, you may need a deep chemical power flush with several dump and refills and getting the engine to operating temp etc... etc...
Some engine blocks have NPT plugs on either side of the block, (near inline with the oil pan) removal is not part of a normal flush but on an older or classic these should probably be removed and snaked out to remove accumulated rust and scale.
Yup that link covers pretty much most ways to do it.
For something that I am flushing out I tend to drop it once 'warm', refill with tap water, run again for a minute or two, drop the refill... and repeat until the water runs clear enough for your liking.
You may have to do this several times on an older vehicle like ours - I did it 6 times on my F350 for it to get anything resembling clean!