Error importing large database - Fatal error: memory limit exceed

Hi everybody,

The exact error I get while in myadmin php is this..

Fatal error: Allowed memory size of 134217728 bytes exhausted (tried to allocate 60616901 bytes) in /usr/local/cpanel/base/3rdparty/phpMyAdmin/libraries/import.lib.php on line 290

I found these possible solutions..
one says Running a script like BIgDump.
or changing memory limits as admin.

but before attempting anything like this I thought it wise to seek out some expert guidance from you fine people.

link1
http://www.bluehostforum.com/showthread.php?31041-Importing-large-database-in-PHPMyAdmin
-------------------
link2
http://www.bluehostforum.com/showthread.php?12598-MySQL-error

I dont plan on keeping both databases running for long. I'm just testing some modifications and I usually do that on a clone of my live site.
once im totally done, my clone with its new mods becomes my live site and the old site is erased.

Just incase resource consumption is a particular concern for you guys.

I appreciate any help you guys can lend to this delema.

Cordially,

Juan Reyes