Raheem Sterling and Danny Rose were subjected to racist abuse during their 5-1 European Championship qualifying win at Montenegro in March, with the Montenegrins subsequently charged for the incident by UEFA.
The first step is for the referee to be made aware of any racism and halt the game for an announcement to be made.
If it persists the referee will take the teams off the field for a reasonable period of time.
The third and final step will see the official abandon the game. "Harry Kane did ask the question about instead of going through the three steps, if we decide that we want to stop the game - no matter what the score is - if we're not happy with it, as a team we'll decide whether or not to stay on the pitch".
"We've touched base on how to deal with the situation".
Mikhaylov said he was "shocked" by the remarks from the England camp and said the accusations were "not only unjust but are continuous attempts to disrupt the atmosphere before a very much anticipated game of football".
"It's a team thing".
"Harry Kane said that if it happens and we're not happy with it, we speak to the player and if he's not happy, we all come off the pitch together", Abraham told the BBC.
"Furthermore, we believe that such behaviour is completely out of line with the UEFA #FootballPeople weeks, a noble cause that the Bulgarian national team and the BFU have taken an active part in".
The Chelsea midfielder has made a wonderful start to life as a Premier League player since returning to west London from his loan spell at Derby County, starting each one of his club's top-flight fixtures and netting four goals in the league already.
"We have an obligation to follow the protocols, that's what we need to do".
The 21-year-old said: "If it does get extreme we may have to take a different action".
Ashley Young was subjected to monkey chants in Sofia during an England game in 2011.
"I, as president of the Bulgarian Football Union, can not allow for such derogatory claims to continue being spread in the mass media and I strongly suggest that the UEFA administration take measures against the build-up of unnecessary tension in the weeks devoted to equality and to the celebration of football".
Abraham suffered racial abuse online earlier this season, targeted by trolls after missing a penalty in the Super Cup shootout defeat to Liverpool.