How do I set up my Miata for drift?

I have a 1994 Miata, base model... doesn't even have power windows. I bought it 3 months ago with the intent of learning to drive better and faster with it. I never thought a Miata could be a good drift car until I saw the second place finish by one in a driftsession (plus a couple movies I downloaded). So, onto my question:

How do I set this thing up for drift?
Do i need to have an LSD (ordering one anyways in a month)?
After that, are there any other suspension mods I need to perform or will a stock suspension work? It has 110k miles, not new, but I heard these things are durable, that's why I bought it.

I can 'slide' (sorta) around a corner easy enough by kicking the clutch, or by pulling the e-brake, but I can't maintain a drift and when I come out the little thing wants to fishtail ... if it hasn't already spun around.

I'm looking to understand how I maintain a drift as opposed to just spinning my wheels with no technique around corners.

Thanks in advance,
Dan