read this:
http://sheldonbrown.com/fixed.html
and this
http://sheldonbrown.com/fixed-conversion.html
and this
http://sheldonbrown.com/deakins/how-...onversion.html

those pages will answer pretty much all you questions.

Then when youre done stripping the frame go here:
http://bikeforums.net/showthread.php?t=259766