Start with an Elevator with to catchers in front of it. 

Now have the base and flier of the elevator grab a thumb to thumb grip with the bases' front hands.   ON count have the bases dip and throw straight up. The flier will have to stay tight, ride her hips up, and tuck her chin.  The front catchers will have their arms up, ready to catch the flier.  Right when the catchers catch the flier, have her let go of her elevator base's and immediately wrap the catchers for the cradle.  

NOTE: please look at your schools/teams rules before doing this transition.  Some rules will not allow you head to go below your waist.