Measure the location of the suspended ceiling down the wall. Take into account the finished ceiling when you measure, such as the 1/2-inch width of the lathe and the 1/2-inch thickness of the plaster. For example, if the finished ceiling will suspend 12 inches from the existing ceiling, measure 11 inches down along the walls to account for the 1/2-inch lathe and 1/2-inch plaster.
Snap a chalk line around the perimeter of the room according to your measurements. The bottoms of the ledger boards will sit on the chalk lines.
Locate the studs in the walls along the chalk lines. Mark each stud location with the pencil.
Cut 2-by-4 boards to create ledger boards along the perimeter of the room. Set the bottom of the boards on the chalk lines and nail the boards into the studs.
Measure the length of the ceiling from one ledger board to another. Cut 2-by-4-inch boards to fit between two ledger boards. This will create the ceiling joists that will hold the lathe. Connect the 2-by-4 boards to the ledger boards using metal L-brackets.
Install small cross-sections of 2-by-4 lumber in between the joists. These sections are called "blocking" and add stability to the joists and prevent them from twisting and warping over time. Stagger the blocking sections between the joists, placing them every 3 feet or so. Toenail them in place.
Measure and cut lathe or furring strips to run perpendicular to the new ceiling joists. Cut and nail the lathe so that the ends rest directly on a joist. Do not allow an end of the lathe to hang between joists. As you nail the lathe to the joists, allow a narrow, 1/8-inch to 1/4-inch gap between each strip.
Mix the dry plaster mix with water according to the manufacturer's directions. Do not mix more plaster than you will use in 30 minutes.
Spray a section of lathe with water to lightly saturate the wood. Scoop up some of the plaster mix and press the mix to the lathe. Spread the plaster thickly across the lathe, pressing the plaster so that it oozes between the gaps of the lathe and spreads evenly. Create a 2-foot by 2-foot square, then go back over your section to even the surface.
Scarify the surface of the plaster with a lightweight metal tool with tines. Do not rake the tool heavily over the plaster, but lightly scratch the plaster to create rough lines. The scarified surface will allow the finish coat of plaster to grasp and adhere to the undercoat.
Continue applying plaster to the lathe, working in 2-by-2-foot sections. Lightly mist the plaster to keep the mixture moist as you spread it and continue to scarify the surface. Do not overwater the plaster or it will drip and not adhere between the lathe strips.
Allow the first plaster coat to set. Before the first coat is completely dry, apply the finish coat. Mix the dry plaster mix for the finish coat, following manufacturer directions. Do not mix more plaster than you will use in 30 minutes.
Spray the first coat very lightly with the spray bottle. Do not saturate the wall. Working in 2-foot-by-2-foot sections, apply a thin finish coat to the wall, keeping the thickness 1/8-inch or so. Work the plaster in wide, smooth sweeps so that the finish coat is smooth and even.
Allow the finish coat to completely dry. Do not add wallpaper or paint for at least 30 days or according to manufacturer's instructions.