Thanks for steering me away from what sounds like could be a rip current of hassles and heartaches. It sounds like the effort it would take is well beyond my limits.
So, if I am trying to do this as efficiently and economically as possible, it sounds like I simply ought to get a spare computer "dedicating" it for this purpose, set it up with Ubuntu 10.4, install BigBlueButton, and try to open a port securely to our school network/server.
(1) Is there a list of recommended requirements for a computer used as a BBB server? CPU? Memory? Hard Drive?