Tough Times: As baby Becomes Big Brother

My two year old(Matt) is happy to have a baby around.  Smiling, waving, and giving lots of kisses.  Telling us with his interactions with the baby that he loves him.  But he has started throughing unreal temper tantrums!!  Please help.  Let me give an example of his behavior.  This morning I came to give him and his older brother oatmeal.  He seemed happy and came to sit down.  He had some trouble getting past his older brother(Sam) who was trying to block his way.  Nevertheless he made it successfully and was sitting quietly by my side. Then when I went to offer him oatmeal he angrily yelled "NO!!!"  So I deceded to leave him alone and just feed Sam.  I think Matt got upset when I started giving the food only to Sam, but he wouldn't except it...what could I do?  Now is when the temper tantrum started.  He started growly and trying to hurt himself, such as pinching his arm, hitting his leg, or pulling his hair.  I asked him to calm down and to be careful or he would hurt himself.  The anger only increased.  My husband eventually grabbed him and held him trying to calm him down.  He talked and tickled and talked and tried reasoning with him, but would not let him go unless he calmed down.  Matt cried, screamed, hit, and tried to hurt himself.  After trying to control his behavior, we eventually had to just leave him in his bed to calm himself down.  He stopped crying almost immediately, but he was still upset when we got him out 10 mins later.  I know that kids will do what they want when it comes to reacting and throwing fits,  but what should I do? I figure next time I will try the time out in bed first since it worked so well.  I really don't like to give kids attention when they are behaving badly, espcially since it makes me want to behave badly.