I'm afraid I don't get how you do that.
Here's what happens when I bind off: I knit two. I take the first stitch and pass it over the second stitch and off the needle. If you put it back on the needle before you bind off the next stitch, aren't you undoing the binding off you just did? Then I knit another stitch, and take that second stitch, which has the first stitch wrapped around its ankles, and pass it over the third one I knit. So now the first stitch is totally inaccessible. Or so it seems to me.
Maybe someone can give me a step by step on how this technique works because I'm just not understanding.