3 words: No sudden moves.
I wish the beginner's MSF course would go back to the video on 'Special Situations', but whether its a blowout, bridge grating, rain, etc. the action is prefaced with no sudden moves.
I had a rear tire fast deflation in an off ramp while leaned over at 50 mph.
My action was to ease off the throttle, slowly straighten and come to a slow, gradual stop. Slow & easy did it.
Many moves are counterintuitive; when I was too late in slowing down for a bad RR crossing, I gassed it & surmounted. A bike following got on the brakes compressing the forks & upon crossing the tracks, the fork seals blew.
For those old enough to remember the Bill Cosby albums:
'when in a skid, steer in the direction of the skid'
OK, who can finish this routine?