1. If you have long pubic hairs, trim hair with clippers or scissors. Electric clippers are best for this purpose.
2. Take a long, warm bath beforehand.
3. Before applying shaving cream, rinse area with cool water.
4. Apply shaving cream a few minutes before shaving to soften hairs. Consider using a shaving cream with additional conditioners or aloe.
5. Be sure to use a sharp blade. You might try using two new blades if you are shaving a large area.
6. When shaving, stroke an area no more than twice to reduce skin irritation. On the first stroke, go "with the grain" to remove most of the hair, then go "against the grain" for a smooth, close shave.
7. Be sure to clean the area afterwards with soap and water to reduce the risk of infection. Ideally, give the area a second cleansing using cotton balls and rubbing alcohol.
8. Some people find daily applying baby powder or talcum powder especially helpful after shaving to keep the area dry and irritation-free.
9. Practice clean hygiene after shaving, washing the area at least once a day to reduce sweat and oil build-up.
10. Go as long as possible between shavings to reduce skin irritation.

A few warnings:

1. People who allergic and react to some shaving creams: This area seems to have heightened sensitivity. Furthermore, if it does react, your natural sweat and the natural abrasion this area receives will most likely make your life a living hell [temporarily]. Consider avoiding shaving all together, or try warning tip #3. If you do decide to shave this area, make sure you use hypoallergenic shaving cream.
2. People with sensitive skin may wish to avoid shaving for the same reasons. Again, if you chose to shave, consider shaving cream made for sensitive skin and use a hypoallergenic moisturizer afterwards.
3. Consider closely trimming your hair instead. It provides many of the benefits of shaving without all the risks!
4. Letting hair grow out after shaving your pubic area is a bitch. The sharp hairs combined with the sensitive skin will make you realize justhowmuch movement happens in that area on an average day. Chaffing is nearly unavoidable.
5. Keeping #4 in mind, people who walk/run/exercise a lot might wish to skip shaving all together if you don't want to invest the time in regular shavings.