BIG CAVEAT: Photoshop and other applications and imagesetters automatically create appropriate screen angles for CMYK. Photoshop can even do it for duotones. However, when building multi-channel art, you must specify the angles or have your printer do so to prevents moires.
The link above talks about duotones. You can also make tritones if your images are photographs. Perhaps your art is comprised of solid colors.
With Photoshop channels, you can also make spot colors. Just add a channel, double click the channel square, choose the "Spot Color" option, single click the color swatch, and select a pantone color. It is a little awkward for most people because instead of working with layers, you work with channels.
Another way it can be done is to work in CMYK and specifically tell the printer which Pantone color is to replace which CMYK plate. Though this provides a way for automatic screen angle calculation, you are not really seeing the art in its true colors while working in Photoshop.