I don't exactly know your level or skills Evo, but just to post something that can be useful and interesting, I'll suggest to have a look to the wiki page about the different ways of use compression, parallel, sidechained or serial.
It's quite a short but well explained page:
http://en.wikipedia.org/wiki/Dynamic_range_compression#Side-chaining
Just to make clear the concept.
I will say that the main point, or actually need, of sidechain on dance music, or bass music, is to avoid conflicts, mess and lost of beat on the low end side of a tune.
To use an effettive and basic sidechain with purely dynamics benefits on low end, you just need to use a comp on a subbass track and feed the sidechain of your compressor with the signal coming only from the kick of your drums.
It depends on the type of compressor, but let's say that usually sould be with a fast attack, short decay, a low treshold and high ratio (treshold and ratio are really relatives to what sort of sounds you need to mix).
If your kick drum is rich on low end freqs, you can even set the treshold to -60 or lower, and ratio to infinite, in a way to almost mute the sub while the kick play.
For this, you must check with an analyser if your kick has enough low freqs, use eq to clean the kick below the 80 or 70hz. So you keep the bassy belly of the kick that compensate the gain reduction of the sub.
Other ways to use sidechain compression for other tracks , like pads, synths, leads, vocals, fx, reeces, I think they are purely an artistic tool to create dynamics effects, but not a necessity.