Honestly, it differs for everybody. Try a bunch of different ways and see which seems best for you. That's what I did, because what I was previously doing didn't work at all, and cost me big time when I took the PSAT last year.
Personally, I find it efficient to skim over the questions, underline the parts of the passage that are mentioned in the questions (eg. In line 27, "beam" most nearly means... etc), and then go back and read the passage once thoroughly. Reading the passages can take anywhere from 1-5 minutes for me depending on the length, but if I read the passage thoroughly I'm able to answer all of the questions without having to refer back to the passage and reread. I don't take notes, because I'm a slow writer and notes don't help; they break my train of thought. I just read, absorb the material, and answer the questions. At first the difference in my score wasn't too significance but once I started practicing more CR sections, I raised my CR score by nearly 300 points so...
Honestly, I don't think there is a "correct" way to take the SAT (well... if you're not reading the passages and instead you're just looking at the line numbers/skimming when mentioned then that's a problem). My way not work for you. Try a bunch of different methods and stick to the one that feels the most comfortable to you.