Not talking about how to handle a simple skid, which is usually controllable. When the car is beyond control, the safe bet is to step on the clutch and the brake, and minimize steering input. You want to decouple the engine, both to keep things from getting worse, and to prevent engine and drivetrain damage. If you try to work out of a spin, the odds are you will flip the car. You want to be on the brake hoping you stop before something stops you. I only had this happen once in the Benz, when my differential locked up and spun the car like a top. Did it once in my Jag at Limerock and once in a Porsche 928 at Bridgehampton. No body damage or bodily damage in all cases. If you're ever in a car that's spinning out of control, do it, don't think about it. Don't be like this guy:

BenzinKrieg - Minus one RS4 -