1  first make a bootable floppy. insert a floppy , open "my computer" right click your floppy drive and select format. then check "create ms-dos startup disk" and "start".
2  download the newest bios from ECS's site. (links not workin for me or i'd link it). just make sure you double check the model  and get the right bios. then get the AMI flash utility. ECS has a real good guide at their site. just read it a few times and write down the key facts if you don't have another comp to use at the same time.
3  DO NOT LET THE POWER GET TURNED OFF DURRING THIS. it should only take a couple minutes to flash.  the thing that most people don't get if they never used DOS is you need to enter the WHOLE name when you enter the file (example : amiflash.exe )
good luck 
edit :
	
	
		
		
			Does it matter if I update it to the most recent version with out stepping my way up?
		
		
	 
later versions have the earlyer updates . just get the latest