What's the procedure when you run out of gas on a motorcycle while riding?

i was riding at about 70mph yesterday on the highway, downhill. all of sudden (no gas guage on the bike) the throttle becomes instantly ineffective and power is lost at 70mph. The engine was still running but not powering the wheel. so now im coasting downhill but slowing down with cars behind me and i panicked and hit the brakes and the turn signal to get over. cars almost hit me and swerved out of the way! it was intense! when i was nearing the stop, the brakes made the bike fish tail out and swerve to the point where i had no control over it. it just happened to remain standing and i managed to stop in the shoulder and hit the reserve and continue. But is THAT the way its supposed to happen!?!!? i couldve died with no warning because the bike just did what it wanted! im thinking that going downhill pushed the gas to the front of the tank and there was so little, that it couldnt get to the engine w/o using the reserve, because in the past i could tell a couple seconds before that it was running out. but yesterday was different. it just stopped literally instantly and i got really lucky i guess. it just seems unacceptable that this can happen. even a safe rider can get seriously injured or DIE because theres no gas guage. is there a safe way to handle this situation? should i not brake? should i hold clutch and coast, should i coast w/o the clutch in? none of these sound safe! lol.