h2g2 The Hitchhiker's Guide to the Galaxy: Earth Edition

Great entry on my favourite drink. Although my knowledge of Russian language and culture is limited, I have some experience with the drink ritual.
Most important is NOT to start drinking until the first toast/speech has been made. The toast is usually made by the senior host, but if a real toast-master is present he may make a toast instead. The toast is usually a long story, always in Russian, with complex jokes, play of words, and with a bit of luck references to literature (Russian!) or similar. This speech is usually not easily translated. After that everyone joins the glasses (softly! not to rough! NEVER spill Wodka!) and THEN you drink. The whole of the contents in one mighty move: bottoms up. Of course you don't smash the glass afterwards.. that's a waste of glasses and it is done only in cheap Hollywood movies.
The next glass is also preceded by a toast, can be by the senior guest. This glass is not necessarily emptied in one go. The third glass and further may or may not be preceded by speeches; the level of speeches rapidly lowers at that stage...

Actally, the toast is not a necessity. the case you describe is for very formal occasions - family reunions, weddings, important guests, etc. What we usually do, is simply join a couple of friends, buy 3-4 litres not-so-bad-quality vodka, and drink it up in portions of ~100ml. (really well-trained Russians drink from water glasses, 200ml.) until we all get stoned. It goes well with special salted cucumbers.