First, you need to teach your dog to calm down for long enough to see the frisbee. Teaching your dog to sit is a must for this activity, as you want him to have his attention squarely on the frisbee. Most dogs will begin to do this naturally once they are aware that the game is to sit, and then chase. Dogs do not mind waiting as long as the payoff is worth it.
Have your dog sit about four feet to your left. Once it sits, let it get a quick sniff of the frisbee.
Next, bring the frisbee back, and give it a little flip while at the same time encouraging your dog to go and get it. Do not throw it too far at first. You want the dog to get the hang of it.
You will quickly discover that your dog has no problem catching the frisbee. It will take to that right away. The problem is getting it to return the frisbee to you. This part requires practice.
One good practice that you can do with your dog is to have it sit right besides you, and hold its collar. Give the frisbee a toss while not allowing the hound to chase it right away. Tell your dog to wait, and after several seconds, release it. Have it bring the frisbee back to you and drop it at your feet.
With enough repetition, your dog will quickly learn the rules of the game, and take to playing with you. Praising it will also go a long way towards your ultimate goal.
Many dogs would take position at an appropriate distance from you, and will then wait for the frisbee to be tossed. As soon as the frisbee is in the air, they will jump and catch it.