I figure a bunch of people are trying to figure out how to nominate themselves as moderators and also trying to walk friends through the process. I put together a short guide which may or may not be helpful. Here goes!
Step ONE: Find a niche to moderate.
The Moderator Center has lots of useful information that can guide your decisions regarding what niches to nominate yourself for in addition to contacting niche owners directly.
Step TWO: Get to the election page for your desired niche.
Step FOUR: Panic! Just kidding. This is where you write a little pitch to try and persuade folks to vote for you.
Step FIVE: Click the shiny button!
If you experience any regrets about your pitch or want to withdraw your nomination, no worries. You can edit or withdraw from the election page for that niche.
And that's about it. Hope that helps.