Double tap "w" to sprint w/ weapon in hand.
Tap "right click" to aim down sight.
After a couple seconds of delay, character will continue sprinting in place as though they were blocked by an invisible wall.
This will continue until the "w" key is released, after which character will aim down sight. From here, a right click will lower the weapon and character will return to default state.
While character is running in place, the "raise/lower weapon" toggle will lower weapon to hip fire mode in which character can move freely. Upon stopping, character will look down sights.