you're doing it... right.
perc is like the jedi-master of disc in my mind, he could far better instruct you in the techinques of discipline healing. But as i am the current raiding disc priest, i feel compelled to give my slightest insight into the wonderful world of POWER WORD SHIELD.
from my experience healing raids, knowing the fights beforehand is the best strategy you can have. Know when a portion of the raid is going to take a large amount of aoe damage so you can pre-shield and make the actual healers job FAR easier. Healing as disc is like the opposite of healing, im terrible with wording things so bear(bare?) with me. Healing is almost all reactive, you see someone's health drop, you shoot magic at them 'till they're better. most good healers know the fights and can help themselves by pre-heal this damage, rather than have it spike and become overwealming. Disc doesnt heal the damage, it mitigates it, preventing the damage from ever happening. My shield, fully raid buffed absorbs roughly 7.5k damage, enough to almost entirely mitigate the thunderclap damage from Gormok the impaler, on 10 man atleast. this is the part of writing where i keep re-reading my paragraph and thinking 'man, this is why i almost failed english, this and the teacher was a bitch.' Heroics as disc are almost too boring to describe, pretty much any non-boss-mob in any heroic - not counting the ICC 5 mans - will take 3+ swings to fully break a shield, and when they do, prayer of mending/penance/re shield. if they start do drop before weakened soul is off, you might even to flash heal.
As far as utilities you are like a swiss army knife that has everything, plus two of the best cooldowns in the game, i like the word utility by the way.
Power infusion:(pocket Bloodlust) macro it to cast on the highest caster dps, but keep it seperate as well, for panicked healing situations.
Pain Supression:(pocket Shield Wall) in scenarios where the tank is about to get squished, this is your trump-card.
im tired and can't think of it right now but there also some dealy that when you have a weakened soul debuff up on anyone, the raid takes 3% less damage, its like blessing of sanc without angrathar wondering why he can't have kings instead. i'll type more later if i get motivated.