If you have to take care of school, that's cool, too, and you should do it. Why? Because that's what's going to feed and clothe and shelter you in the future!
After that? Seriously, just plunge into it! First of all, things will go horribly wrong in the most imaginative ways possible! You can't make a plan and pull it through without having hands-on experience beforehand. Do some simple edits you want to incorporate into your hack before you screw up your hack you hacked for so many months without backups and which is gone after your last hack. Just try step by step inching towards the goal here. Do some edits on other roms and see if it works and when you have enough experience in some things, incorporate them into your hack.
Seriously, it's been only two weeks ago that I wished I had made a backup before this happened: "Funny... Can't remember coding that, code is probably not used, delete it for eternity! ... ... . . . Oh crap! Ctrl + Z... Doesn't work. Shit $#%&%{*@}!!!!!"
cYa,
Tauwasser