How do action stations work?

My FH and I are starting to think about our reception, and the concept of action stations is completely new to me. I was originally set on a plated, served dinner, but I am starting to lean more toward action stations due to the variety of foods available and the vibe I'm going for at the reception. Since we'll be in New Orleans, I don't want the reception to be too formal; I'd rather people to move around, eat, drink and party -- but with some sense of order. With that said, I'm confused as to how an action station reception works. Most receptions I've attended were plated with somewhat of a "program" or timeline before dancing. What's the flow of a reception with action stations where people are free to move about as they please? I'm just wondering how you handle the timing of other reception "events" -- first dance, speeches, cake cutting, etc. with some sense of order with action stations. I don't want people walking around and mingling during those events. I'm lost . . . help! Thanks in advance.