How Do I Track With Plugins

You can but it wont have any effect on the actual audio. It may give you an incorrect level display too. Try to keep all inputs at Unity when you are recording and adjust the level at the source. If you have to have a compressor for the audio coming in use a hardware compressor before the audio gets into the computer.   

Scook told you how to do what you asked for, but John told you how it should be done.
Peace

I am one of those rare Sound Tech that never use a compressor while tracking.
It`s more work and you have to be more careful but you have much better Dynamics in all your tracks.
Remember that with a minimum 48khz & 24bit recording you have enough headroom and enough low noisefloor that you dont have to keep levels with the edge.
Peace.

maltastudio
I am one of those rare Sound Tech that never use a compressor while tracking.
It`s more work and you have to be more careful but you have much better Dynamics in all your tracks.
Remember that with a minimum 48khz & 24bit recording you have enough headroom and enough low noisefloor that you dont have to keep levels with the edge.
Peace.

I don't think that's very rare to be honest but even with current low noise floors and high dynamic, it can be useful to track with a good compressor because a good hardware comp will let you get away with a lot more compression before it becomes audible, compared to a plugin. At least insofar as I've experienced. Since you'll eventually compress in the mix anyway, it can help to have a better start with a more even, still natural sounding signal.

That said, tracking (and printing) a software compressor is useless in almost every situation I can think of.