Hi Danny,
There are indeed many approaches. If you would like a challenge and a bit more than just taking off the shelf modules and putting them together like lego, most likely you will need to progam a micro processor. Which is fun.
Why not drop in on a forum that discusses a propular micro like
www.avrfreaks.com which is focused on the 8 bit AVR line of micros from Atmel (good for a hobyist as easy to buy and have lots of tools). There are discussions on wireless analog, digital, spread spectrum, ADPCM, wi-fi and people can give advice on schematics, componet selection and programming techniques.