Can anyone please tell me in detail what to do to change my video from 16 bit to 32 bit and also how do i change the resolution for my moniter after installation? PLEASE HELP

All your settings for XFree86 are located in a file /etc/X11/XF86Config(-4), if you go down to the "Screen" section of this configuration file, it should have the option: "Option DefaultDepth 16" or something like that, and underneath there should be the settings for a depth of 16 with the resolutions underneath it. Just change the different resolutions to what you want available, example:

Modes "1024x768" "800x600" "640x480"

This will give youa default resolution of 1024x768, but you can cycle through resolutions while in X by using the key combonation "Ctrl-Alt-Minus" and "Ctrl-Alt-Plus".