For me, the usual method is:
1) Get a scratch guitar track recorded to a simple repeating drum beat.
2) Figure out if the tempo needs to change at all - for the whole osng, or just parts of it. Alter the drum pattern according, re-record the scratch track if needed.
3) Start laying down more tracks - working rhythm parts - guitar, keys, bass.
4) Re-do the drum track, if there is going to be one - sometimes I've ended up deciding it owudl be better wiht no drums, or just some percussion.
5) Record vocal tracks
6) Record lead guitar (sometimes synth) tracks
7) Think of any othe rtracks that may need adding (strings, organ ...)
8 ) Mix mix mix
9) Listen listen listen
10) mix mix mix