All that is usually used is perming lotion, but of course instead of using rods to curl it you keep combing it while the lotion takes.
So what you need to do is keep the hair as straight as possible while the lotion is on, so keep still and keep combing the hair over and over.
The most important bit is the neutralising (same with a perm), as this is what locks it in, if you don't do this bit right the first stage doesn't matter at all. Again keep combing the hair as straight as possible for the time frame.
I have thought about it myself, but the only thing that puts me off, is the wavy/curly roots when the hair grows and it does dry your hair out quite a bit, causes breakage.