The launch control is based on a rev limiter. This is configured from the Extended → Launch Control dialog. Often the best way to control this is with the stock clutch switch which opens/closes a circuit based on the clutch pedal position. Note that often this circuit also runs through the neutral safety switch on manual transmission vehicles. This means that if you turn launch control on using the stock clutch switch, it will activate when the transmission is in neutral or when you push down the clutch. So when the trans is in neutral, you'll have a launch control rev limiter. When you push in the clutch and put the trans into first gear, you'll also have a launch control rev limiter (which is when you want it) every time after you first put the car in gear and take your foot off the clutch. When you have the launch control active, the rev limits drop to the limits specified on the launch control screen, letting you rev the engine up to a fixed RPM that you can adjust. When you release the switch, the rev limit is removed and you take off… nice and controlled.