From "The Game Daytm Poker Almanactm, Official Rules of Poker, by Kelli Mix
Chapter 1: Elements of Poker
Shuffling without a House Dealer
The duty of shuffling the cards is shared by other players at the table when a house dealer is not provided, such as in a home game. The following explains an expedient process commonly used for shuffling cards in a game without a house dealer:
1. Player A offers the player to his left the option to cut the first deck of cards. He then deals each player a hand. He gathers the cards when the hand is complete and begins shuffling
2. Player B offers the player to her left the option to cut a second deck cards. She then deals each player a hand with the second deck of cards while player A finished shuffling the first deck
3. Player A passes the first deck of shuffled cards to Player C seated two places to his left
4. Player B gathers the cards when the second hand is complete and the process continues around the table"
This seems to be the same process as described by pbrannon.
Hope this helps!