I couldnt find the link that I had saved (although I bet if you look on the thread called Eating your placenta? in Im Pregnant you will find plenty) but these are the instructions that I had copied down when I was still pregnant. Maybe this will help you some.
Instructions on drying/encapsulating:
It takes about 12-16 hours to prepare the placenta. Cut the meat away from the membranes with a sharp knife. Discard the membranes and cord. To cook, wash excess blood from the placenta. Place it in a steamer over water. Steam
for 15 minutes, turn, and steam 15 more minutes until no juice comes out when pricked with a fork. (Steam over low heat, it has a tendency to boil over and that's a mess.) After steaming, slice the placenta in 1/8" strips, similar to making jerky. Slice as thin as possible. Place the strips on a cookie sheet and put it in an oven on the lowest possible setting for several hours until completely brittle-dry. Using a food dehydrator is even better, but will take longer. Powder the strips in a coffee grinder, or blender and encapsulate.
After the placenta is prepared it is taken, 2
capsules at a time, three times a day for two weeks postpartum or until no longer needed. Any remaining placenta can be saved and used homeopathically for those times when the child undergoes a separation from the mother. It can be kept indefinately, but for long term storage, freezing is recommended.