I can help you! (bree-alex from mervyn's)
OK, here is what you do. Create a new layer underneath the layer with the drawing on it (before you've started coloring!). Set the top layer (your drawing) to MULTIPLY. (there is a drop box in the layer window that reads "normal" - click it and set it to multiply). You color on the layer underneath. ^_^
No more white crap!

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~B.A.M.

Thank you the Grrrrrreat Bree-Alex!!! I will utilize this in my next project! I knew someone would have the answer!

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I wonder what happens when I do this.... *pulls tail* OWW!! WTF!

Uhh... One question. So I have a brand new layer underneath the layer with the drawing on it (that is set to Multiply). Now this new layer, is it set to normal or also multiply? And, if I am coloring on the new layer, I cannot use the magic wand to select the area I wish to color, since the layer is blank..... am I right?

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I wonder what happens when I do this.... *pulls tail* OWW!! WTF!

The layer you will be coloring on will be kept "normal".
You have to color as if you are coloring in a coloring book, with the paintbrush tool, by hand. The magic wand too will not work UNLESS the lines in your drawing are crisp and clean. You can try it if you want, but you need to have the drawing layer selected in order to use the magic wand tool (unless you set the tool to work on all layers). The magic wand tool will not pick up everything - but there is a trick that will help. I usually set the magic wand tolerance at 32. Go to the menu, under select. Go to modify --> expand. I usually do it at 2 pixels. But it depends on how large your drawing is and how thick the lines are. This will slightly expand your selection to pick up what it otherwise missed. But I don't suggest it unless you actually drew the lineart in photoshop. With your ink drawing, the best way to go about it is to just use the paintbrush tool like a coloring book.

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~B.A.M.