Anybody who says "Terrible Twos" hasn't had a three year old yet.
He'll most likely grow out of it. Kids use tantrums as a means to communicate. I'm not sure how verbal your son is yet, but it could be that he's learned that making the most noise gets him attention.
I would continue what you're doing, but be sure that you remain calm. Don't react to his tantrum. Tell him that you can't understand him when he is screaming, kicking, whatever he's doing, but tell him you'll listen when he's calmed down. And then either put him in his room, put him on the chair, or just turn around and ignore him.
If he's in a full out fit, it will do you no good to try and sit him down and talk to him. That won't calm him down. Often times when children get out of control like that, they aren't being manipulative but are trapped in the behavior. They need help calming down and often want to calm down.
When my son was acting out alot I also took a good hard look at myself and how I was behaving during the day. I realized that I was frequently yelling at the dog and cat, hollering across the room at the kids to do something, and generally acting loud. I noticed when I stopped being so loud, so did my kids. So I think it is really important not to raise my voice unless it is absolutely necessary. Because when I get loud, my kids respond in kind.
Good luck. It will pass.