very simple, if you like a heavy favorite you bet it just like you big a big dog, straight up.
There is no shortcuting juice. You cant parley a heavy fav with another heavy fav. It does not remove 1 cent of juice. As a matter of fact, unless you are playing at a book with true parley odds, you acually add even more juice to your play.
I generally try to leave anything above -150 alone, but to tell you the truth, that logic is flawed and I will be the first to admit that.
Value is value no matter how you slice it. The reason its so hard to find value in the -200 range is because the money line bracks off so much from the 10cent line the further up you go. So this means the value on those favs are not even really worth the effort of capping them. Why waste my time calculating value on all these -200 bets when im only going to find real value maybe once or twice a week. And when if you do find value, you better make sure your right, because it sure is hell on your bankroll losing one of them basterds.