Here's what I've done so far.
I boiled 400 grams of light DME in 4 liters of water and put most of it in a clean and bleached one gallon glass jug, cooled it down and pitched the yeast into the jug. It is pretty much full to the top so I expect a good amount to blow out the neck of the bottle which I hope will be ok. There is just tinfoil over the top.
OG of the starter is 1.032.
How long do I let it sit for before I decant the liquid and pitch the sludge? I was hoping to brew tomorrow but I can wait until Friday as I have either day available. If I left it for 24 hours, would that be enough or should I wait until the day after? Exactly what do they mean when they say "crash the starter"?
A bit more direction concerning how to handle the starter now would be appreciated.
A couple of things that you may want to change next time: 1) get a bigger jug, enough to contain the fermenting starter at about half full and 2) make sure you rinse the bleach really really really well or use a no rinse sanitizer instead.
That starter should be done and ready to pitch either day. "Crash" means "crash cool" - put the jug into the fridge until all the cloudiness drops out and leaves a layer of yeast and trub at the bottom.