Cramer's Stock Replacement Strategy

I have just read Jim Cramer's new book "Getting Back To Even" and have not been able to clearly grasp his stock replacement strategy.

After he places a deep in the money call on a momentum stock, does he immediately sell stock short in another account? Why does he need two accounts? Is there another call he is placing in the second account? Are the accounts linked in any way?

What I really need to see is the math and account details on paper. His description in the book is a little bit to short.

Does anyone here fully understand the strategy as he explains in "taking it to the next level"?