What this device/technique is attempting to do is hyperventilate the patient at emergence to accelerate the elimination of inhaled agents while maintaining high ETCO2 by increasing dead space to avoid suppressing the patient's respiratory drive.
This can be done without a device, all you need to do is turn off the inhaled agent, hyperventilate the patient with 100% o2 until you eliminate the gas then start hypoventilating to get the patient to breath (do hyperventilation and increased CO2 consecutively instead of simultaneously).
I am not sure why you would want to do something like that though?