1) Find a location to host your swf files.
For example, you can log into Google Sites and host your content by uploading the swf files as attachments:
2) Make sure to upload the following swf files in addition to your main swf file.
These are dependencies without which you will face various errors when trying to run your main swf file.
3) Afterwards, get the link to your swf and to embed it in your blog as outlined here.
4) After embedding the SWFs in your blog, you may feel that your posts load significantly slower that they did before. You can remedy this situation and speed-up the load times if you place a div tag around your embedded tags and have the default mode set to be collapsed. This will give your readers the option of expanding the content and causing the flash player to load the swf files on demand.
Here's an example of all the code that I had to put into this post.
To get the following to work as I described above: Expand/Collapse Example