I thought I'd briefly outline the Zappity endorsed method of farming faction warfare plexes. You should follow these steps closely:

1. Fit your T1 ship in a manner similar to this:
http://eve.battleclinic.com/killboard/killmail.php?id=20708168
The fitting isn't too tight so don't worry if you are a day one alt.

2. You can either do defensive plexing or kill the faction frigates with your main. Either way, you definitely need to go AFK while the plex is ticking down:
http://eve.battleclinic.com/killboard/killmail.php?id=20708167

3. This is the most important step. If you are popped by an ebil piwate you must NOT learn your lesson. You must rant in local and then be podded again a couple of hours later:

http://eve.battleclinic.com/killboard/killmail.php?id=20710481
http://eve.battleclinic.com/killboard/killmail.php?id=20710480

4. You need to place a bounty on the ebil piwate. This should ideally be 10 digits in size to teach them a good lesson but if you are a tight git it can be less. Just remember, it's the thought that counts.

5. Do NOT forget to make kill rights available to all. These severely limit the play of the ebil piwate who never leaves lowsec.