Most of the American populace thinks it improper to spank children, so I have tried other methods to control my kid when he has one of 'those moments.'
One that I found effective is for me to just take him for a car ride and talk.
Some say it's the vibration from the car, others say it's the time away from any distractions such as TV, video games, computer, iPod, etc.
Either way, my kid usually calms down and stop misbehaving after our car ride together. Eye to eye contact helps a lot too.
I've included a photo below of one of my sessions with him, in case you would like to use the technique.