Well I could try to type a step by step for you but unless you have done it you aren't going to have a feel for it and you will fall and bash your head, but I will try to give you an idea.
When clinched up it works best for from the collar elbow clinch (at least for me)
You trap your opponents arm to you with the hand on the elbow and keep there head close. You pull tight on the head to keep your self from falling hard.
The hand that has the collar is going to be the leg that moves up first. You are basically trying to kick them in the arm pit. From there you are going to be jump and kicking your hips out to wrap the other leg around the neck of your opponent. You are still holding tight around the collar to drag them down. They will be trying to stop from falling, this is why it is a move that does not hurt that much. When your shoulders or upper back touch the ground you are going to drive your feet to the ground so they land on their back.
When you see a flying arm bar done in competition it normally ends up being an inverted arm bar because of the resistance done by the opponent. If this happens on concrete or asphalt it will split your head wide open.
I would never ever go for this in a street fight, no matter how huge an opening
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