Best way to manage LEGO blocks
The best way I've ever seen this done is exactly the same way you'd see a handyman manage all of his nuts, bolts, and screws. The general idea is that you have lots of small compartments for each of your different kinds of legos - and it can be up to you whether you separate by color, or just by shape and size.

On a quick glance at a big box store website, this seems like it might be a good inexpensive starting point: 

http://www.homedepot.com/p/Husky-28-Drawer-Small-Parts-Organizer-222169/205053254