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I know that many people advocate missile launcher spam in lists like Space Wolves and marines, but I haven't heard as much talk for IG.

A 3x ML heavy is 90, a 3x LC heavy is 105.

5 points extra for a shot which can penetrate AV14 1/6th while ML can never penetrate it.
A LC is not a meltagun at 6", but it still is like 17% more effective against tanks than ML. More reliable and bigger damage. Although it costs 17% more points to make up for it.

My first game with guard I had mostly autocannons which can't put a dent in tyranid monstrous creatures. T6 and 2+/3+ armor with Feel No Pain sometimes meant that autocannons posed no threat at all. Meltaguns aren't so effective because they have to get within charge range of a super combat monster to use them (and then the squad gets eaten alive for maybe 1-2 wounds done out of 6 wounds on the bug.)

I'm already fielding stuff like basilisk / leman russ / manticore type ordinance siege weapons which can quite effectively smash a horde of troops, they just couldn't put a dent in a super MC.

He got first turn and wrapped both sides with zoanthropes/hive tyrant/MCs so that my Vendettas couldn't get behind his lines and kite anything. His mawloc/trygon appearing right next to my artillery neutered it pretty well. Troops with grenade launchers did absolutely no damage with 4+ hit 4+ wound and 2+/3+ save. Is the answer just buying massive numbers of special meltaguns/plasmaguns and rapid firing the monsters who deep strike?

Just keep rolling dice I suppose. Take as many lascannons as you possibly can could work, or backfire as they keep assaulting

Lascannons are better, but they're still not great. Moreover, you're starting to stray into expensive territory. I mean, if you pay 210 points and the price of keeping your CCS stationary, you're looking at taking 2 turns to take down a Tervigon, and that's assuming that your own troops aren't in the way, or the monstrous creature has some way of getting cover. The point is that, under prime circumstances (like, the HWSs always pass their orders, and your opponent never shoots or assaults the squads, for example), you're maybe looking at making your points back. Most of the time, you're paying more to kill it in a reasonable time than they are to take it. This means that every TMC they bring gives your opponent more and more of an advantage relative to how much you have to sacrifice from the rest of your list to take it down.

MCs are hard for guard to handle in general, but there are ways. Plasma CCSs, for example, can do some awful hurt. Vendettas with melta or plasma vets inside can likewise bring the pain in a big hurry.

I've only touched on the IG codex a little. But from all my friends, and people I've heard from....

Just pick a unit that has veterans or BS 4, give them max amount of plasma guns, and deal with the fact that x3 plasma guns cost half as much as unit haha. Make that a little spammy (take a couple of squads) and then keep them protected, and attack at ideal conditions, aim for Space Marine Terminators, MCs, light tanks (maybe?). Basically Plasma guns can take down anything that normally costs a lot of points to field. So aim them at the most expensive infantry unit, and let them eat em up.

A friend of mine has a Nidzilla list which features something like 40 T6 wounds on the table. What I've found works is melta/plasma vets in chimeras and a whole lot of lascannons and LRBTs. Most MC:s don't get armor save from the LRBT and the size of them makes the scatter pretty reliable. Still, one blast for one wound, out of four to six...

Pick one MC at a time, and grind it to dust. Don't stop until it's dead. Then go for the next one. Do it in order of largest threat to least.

When all else fails, the lasgun with FRFSRF can do wonders in terms of forces saving throws. It's 4+/6+ but with enough dice they'll go down in a death of a thousand needles.