What is the best way to heat sink a chip when soldering it on?
I have used these tips to get started with SMD soldering. Until now I have not found it necessary to drain heat as long as you mind where you put the soldering iron tip and don't apply heat any longer than needed.

http://www.infidigm.net/articles/solder/ - The second article is better, see comments

PS: This article may help as well, it seems to be quite good:

http://www.sparkfun.com/commerce/tutorial_info.php?tutorials_id=36&amp;page=1