Basic knowledge for a high traffic application

Thanks for all the questions and responses posted on here. This site usually shows up whenever I search for information from google, and in many cases, the answers are usually relevant to the issues I needed solved.
I want to preface my question by stating that I've been programming (.NET, XML, T-SQL, AJAX, etc) for less than 2 years, and I still have a lot to learn; so, pardon my ignorance.
Here's my situation (and question): I'm building a social web application, which I know will have much traffic in a short time; as a result,

• What are the basic information that I need to have, in order not to be overwhelmed? It's currently a one-man affair, and here is the hosting specification that I plan to start with: 2GB RAM, 600 HDD, 1000 GB bandwidth, and 2.13GHz Duo Core Processor.
  
• I've read about web-farms, but I've never had an opportunity to use them, so I'm not entirely sure how to phrase this question: how can one split the same application on multiple physical servers? How do you make all the files act as one entity? And since every .net application requires a web.config, how is it split among the various files on these multiple servers?

I've built smaller projects before, but this is the first big project I'm building, and to be frank, I'm a little intimidated. So, I would like to ensure I know what I'm getting into before starting.
Thank you.

Based on your background I assume you are developing in a .Net environment? If so, I highly recommend you take a look at Windows Azure. Developing your app against Azure will allow you to deploy your app in Microsoft's cloud platform. Once deployed you can shrink and grow your resources according to demand without having to deal with the relative hassle of setting up multiple servers in multiple locations and managing it all. This allows you to pay for a "little bit" of server up front and if your app gets popular you can easily pay for "web farm" like power and geographic diversity. It also gives you a decent framework for developing an app that will scale relatively well. That's an 18,000-feet overview. If you can put some more details in your question I'm sure you will get more detailed responses. Best of luck!