It's also possible with FWD cars, with a automatic tranny too.
You've got to get plenty of speed (50+ MPH is my guess) and plenty of room, since you're doing 50 mph. I prefer left turns so... just turn the wheel as fast as you can all the way over, and when you can *feel* the turn, pull the handbrake ALL the way up, this will lock up the rear tires and send you into a crazy oversteer, this SHOULD complete a 360* if you release the handbrake after you've hit a 180* but before you get to a 240* the tires should (unless you have ultra sticky tires) continue to slide looking for traction and will find it nearing the 360* mark. . .
Keep your foot *slightly* on the gas, to prevent the wheels from rolling backwards, which will just kill the engine, and you'll be slowing down the rotating mass of the rear of the car, which will cause the back tires to gain traction faster, thus causing you to only pull a 180* instead.
My suggestion however, is to practice with the handbrake on a gravel road, with a field on both sides (you WILL go off the road)
You can actually drift the car with enough practice, meaning you can drive while the car is going sideways