In one of the comments (near the bottom) on http://tacticalintelligence.net/blog/slatts-rescue-belt.htm there was a suggestion to alternate the direction of the loops to prevent the paracord from twisting badly.

This is the process and the result:

(making a full belt with 20m of paracord took about a day of picking it up, doing a couple of rows while in front of the computer and putting it down again)