In this paper, we design constant modulus probing waveforms with good correlation properties for collocated multiinput multi-output (MIMO) radar systems. The main content is as follows: first, we formulate the design problem as a fourth order polynomial minimization problem with constant modulus constraints. Then, by exploiting introduced auxiliary variables and their inherent structures, the polynomial optimization model is equivalent to a non-convex consensus minimization problem. Second, a customized alternating direction method of multipliers (ADMM) algorithm is proposed to solve the non-convex problem approximately. In the algorithm, all the subproblems can be solved analytically. Moreover, all subproblems except one subproblem can be performed in parallel. Third, we prove that the customized ADMM algorithm is theoretically-guaranteed convergent if proper parameters are chosen. Fourth, two variant ADMM algorithms, based on stochastic block coordinate descent and accelerated gradient descent, are proposed to reduce computational complexity and speed up the convergence rate. Numerical examples show the effectiveness of the proposed consensus-ADMM algorithm and its variants.