Best way of hanging, some ideas
1. Use a vacuum hanger. It puts much more pull on the inner structures of your dick and no tension on the skin.
2. Use high enough weight (e.g. 15 pounds) and long enough time (3x30 minutes every day).
3. Tightly wrap your dick with elastic thin cotton (medical supply), but only the portion inside the tube - no doughnut effect
4. Hang with a cable running to the ceiling, dick on one side attached with a hanger, weights on the other side. With different attachment points any desired angle can be obtained. Best idea: turn along your long body axis by 45 degrees every 5 minutes. Stay a little longer in the between the cheeks position
5. Hang while playing drums (or whatever you play, or type in your pc - just do something to distract you from thinking of your dick) hanging down sitting, straight out using an attachment at the opposite wall and straight up to the ceiling