1. Make trades with teams under the cap, giving up more in salaries than you're getting back.
2. Trade for players with expiring contracts and get cap space at the end of the year.
Yeah, that's what i did. Traded Brian Grant for Penny Hardaway because Penny only has a year left on his contract and Grant still has 3. So at the end of the season, I'll have 15M off my cap, but i think i'll still be 4M over after that.