I agree that you should tell the child "NO!" or "NO BITE!", put her down immediately, and ignore her for a few minutes or until she seems contrite. If you notice a pattern to the biting, sometimes you can catch it just before it occurs, though a bite tends to be very quick. (I did this with a semi-feral cat that wanted my love and feeding, but tended to scratch. After I yelled OW! and walked away and ignored her a couple dozen times, she finally began catching herself just before striking out. Hopefully it will be faster with a child.)
Sometimes it works to put them in their room or crib, but be aware that once they begin to associate those places with punishment or isolation, many children will NOT want to be in their beds alone in the future. You don't want a child to think she's being punished every bedtime.
But putting her down in a safe place, across the room from you, and getting busy with something else should do the trick. Be as consistent as possible. Every case I've heard of that was handled firmly diminished over a few weeks at most. Another part of the "repair" for a sensitive child can include hugging and making up, and asking the child to gently kiss the owie she caused.