I wash most cycling apparel in mesh lingerie bags, on the gentlest cycle, with Dreft (or similar) detergent. Wool jerseys (I have many) get laid flat to dry, other stuff gets about 15 mins in the dryer on the lowest temp setting and is then hung to dry. The stuff is expensive, so I try to take care of it.
It does take a day or two for a jersey or bibshort to finish air-drying, which is when it's handy to own quite a few - in order to keep riding.