Where to start, wheel building is a bit of an art form and can be quite difficult and time consuming and sometimes is best left to the experts. If you do want to give it a shot then patience is key :)
There is a great resource here http://www.wheelpro.co.uk/wheelbuilding/book.php

Wheel building isn’t so bad if you are swapping out the rim as you can lace and unlace the two rims side by side. There are so many variables when building a wheel, firstly is the hub a direct replacement eg is it the exact same hub that failed? Is the spoke count the same on the new hub versus the old hub? (eg 32hole etc)next question, are the spoke hole drilling’s the same on the new hub and does it match the old hub spoke hole drilling pattern? (some bontrager’s have an unusual spoke pattern where the holes in the hub and the rim are unevenly spaced)
First and foremost if you haven’t removed the rear gears or cassette then do so NOW as you will find it difficult later. While you are at it remove the tyre, tube and rim tape that covers the spoke holes.
Now, if the hub is exactly the same as the old failed one then the process is reasonably easier, firstly you will need a spoke key, either like this multi fit tool(top pic)
or like one of these individual fitment types (bottom pic)

http://www.independent100.com/category/brands/super-b-tools/superb-spoke-tools
A good idea is to take some pics of how the wheel is laced before you delace it to refer to if and when needed during rebuild. Take note of where the spoke to the right of the valve hole goes as this can be a great starting point.
Once you have a spoke key that fits snugly on the spoke nipple you then loosen the spokes evenly all around the wheel, normally starting at the valve hole as your reference point. Once all spokes are loosened you can remove the spokes and keep them grouped together (ie keep non drive and drive side spokes separated)

Take the new hub and insert the spokes the same way they were on the old wheel build. Make sure the spokes do not cross the valve hole as it makes it difficult to inflate the tyre if you do. Gradually and evenly tighten the spokes to be equal at each spoke ( a good idea is to fit each nipple so the nipple is screwed to the end of the spoke thread first and then using the spoke key adjust each spoke evenly)

Your wheel should start to look like a wheel by now? You need to make sure your tension is even so the wheel remains true both laterally and vertically stays round. Uneven tension will cause in and out and up and down shaping to the rim. Hope this helps?
Shane

When I built my wheels 2 years and about 4000 miles ago, I relied on Sheldon Brown, http://sheldonbrown.com/wheelbuild.html, and a YouTube video (I don’t remember which one). The combination of written and video instructions really helped me. I read and watched several times before I started and anytime I wanted to check where I was. I think I did benefit from using Velocity Dyad rims that are very sturdy and straight to begin with. All I needed to do was keep the tension even and they stayed true.

I built the wheels slowly and carefully. I laced one wheel and then took a break. I started tightening the spokes by turning the nipples the same amount and then took a break. I repeated this until the spokes had good tension. Even without a truing stand the wheels were very true. I just spun them in a frame and used a dowel I held on the brakes to check them. When I thought I was ready, I took them to a friend’s place and checked them in his stand. They needed very little tweaking, maybe a 1/4 turn on 2 spokes.

The hardest thing was to get the dish correct on the rear wheel. I just had to put it in the frame and see where I was. I would tighten all the spokes on one side and loosen all the spokes on the other, each set the same amount. I now have a dishing tool and you can find instructions for making a cardboard template instead.

Lastly flexing the spokes by hand once you have some tension on them makes them come out better. Basically this releases the frictional force from where the spokes cross. Otherwise the first time you put some weight on them this frictional force will be released and the wheel will change a little and need tweaking.

Good points Jack and the way we tweak wheels once built is to sit the wheel axle end on a flat surface and gently press down on opposing sides, you can here the spokes settle when doing this. Another way to check the dish(centering) is to turn the wheel around in a frame if possible and compare to how the wheel sat in the brake caliper before and after reversing the position.

That would be great, Dooch?