Take a time out yourself if you are flustered. There is nothing wrong with getting calm before you discipline. Have the child go to their room until you are ready to sit them down and talk about the situation, and the consequences.
You have to establish strict guidelines: no more then five to ten rules because they won't remember any more then that. Enforce those rules strictly and do not punish randomly.
Make the punishment something that they actually will care about. If your child is young give them a time out. If they are older tell them they can't stay at a friends or watch T. V. Then explain to your children why they are in trouble and why it's wrong.
