The closest I've gotten them is nest building and courting....but nothing successful. it happened totally at random - it was nothing I did. We introduced an adult female into an established mixed sex group. Two of the larger males started courting right away, and then she split off with the larger. The male formed a nest in the substrate and we watched them for about two weeks swimming along side each other etc....
They are being farm raised in South America, but as far as I know, nobody in the US is even attmepting it anymore.
If you did get a breeding pair (or group of breeders), you must leave the young with the parents. Like you said, they are highly dependant. Somewhat like discuss, the young need the "milk" secreted from glands in the males head. Once they are of some size (I'd suggest 8" or more) then you could look at pulling them. They take well to live food, but I like to switch them to thawed or prepared foods as soon as I can.
Collecting them is more or less the same way other fish are pulled from breeding pools: Nets. The catch (no pun intended) is they stress out much faster than other fish (like cichlids) when beign caught. That combined with being obligate air breathers causes difficulty.
I think it would be great to breed in the US. But we don't have places for them once they grow up. There aren't very many efforts to restock wild populations in South America. Most are farm raised for the markets.