LG Tiny MCE- automatically remove formatting

Awesome plugin. Sure as hell beats EE’s default text editor

I’m having a problem with content authors copying/pasting code into a Tiny MCE text field. I would like to keep URLs in tact but remove all text formatting. The REMOVE FORMATTING button gets the job done, but I’d like to do this automatically. I have tried entering different config parameters in the SETTINGS field but none of these seem to do what I Need

Perhaps if auto reformatting isn’t a possibility, could anyone shed some light on the Paste plugin, and how I could modify it to automatically remove formatting upon pasting?

thanks a ton, Arthur