Try this URL for sexing your flowerhorn :
http://www.flowerhorns.com.my/appreciation.html
Another thing you can look out for when determining the gender of the fish is by observing the dorsal fin. Usually there will be black dot(s) on the dorsal fin of the females. However, this method is not fool proof...the guys at the LFS told me the accuracy is somewhere in between 80%...so in the end of the day you will have to use several methods to determine the gender.
About breeding the flowerhorn...well, perhaps someone else can answer that as I have no experience on that.
However, ask yourself do you really want to breed this fish??? There are so many of them in the market that people are actually discarding the lower quality fish into our lakes and rivers. So give it a thought before you want to breed it...well, just a thought!