Drown-proofing is basically a means for floating
near the surface of the water, similar to treading water. A technique used by Naval Aviators as a means of survival in the event of an ejection over water.
Simply described, you tuck your chin into your chest and kinda roll into a semi-ball shape, arms and legs hanging. I usually cross my legs at the ankle, it just feels more natural that way.
Floating just under the surface, all it takes is a stroke or two of your arms, in a treading water fashion, to raise your head up/out of the water to take a breath. Blow out through your nose as you lift your head out of the water, take in the next breath and return your head to the "chin-tucked-into-your-chest" position and just relax.
Once you get your rhythym down, you'll find you only need to take a breath about once every 30 - 40 seconds...it's really very relaxing (in a pool...not sure of it would be so relaxing in 10 - 20 foot swells/waves.

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Here's an example:
Randy