This can be done in local versus with 2 controllers.
Play as Atrocitus and pick Green Lantern as your opponent. This move is one of Atrocitus's special moves. You need to have at least one full meter bar.
Get Green Lantern's health to around 10 percent. Then do the Life Drain move by hitting
. Atrocitus will start draining health from Green Lantern. After he's drained a bit hit
If you're not sure of the exact timing of the meter burn you can just keeping spamming
after doing the Life Drain move and he'll eventually do the move.