Gotta start somewhere
There is a lot of info on the board about optimal betting and risk of ruin, and it can get complicated. If you don't have a math or statistics background, think about picking up Sanford Wong's "Professional Blackjack," which has an excellent introductory chapter on this subject. I know just enough to realize what a good teacher he is, and I would recommend it.
I predict you are going to hear a lot about variance, which can get you even when the deck is in your favor. Lets see....with an advantage of 1%, minus a half percent house advantage, figure on an EV of 25 cents for every hand you play, times say 25 hands an hour. Plus a little more at higher counts. The problem is the range of possible values in real life. It is amazing how often the house wins even when they aren't "supposed to." ;)
I've been more or less in the same position as you, and I've given the subject some thought; I have one suggestion that might be of interest. It sounds like you guys are planning on a "spread" of 1-2; in other words, the minimum bet will be one chip and the maximum will be two. If so, then YOU might make money, but between the two of you, there will be a net loss. In other words, your kind friend is going to lose more than you make. You need a bigger spread to beat most shoe games.
You might want to think about switching seats. So you can sit there and bet minimums, and when the count gets good, you call in an airstrike from your rich friend, who will come in at 5 or 10 times your minimum bet and parlay up from there. Between the two of you, you will need about three grand to play this game. The advantage of this approach is the power of a pooled bankroll, and also neither one of you has to worry as much about covering bet variation or playing strategy deviation. The disadvantage is that it wouldn't be hard for casino personnel to figure out what you're doing, so you have to be cool and not get greedy.
Now, if your friend doesn't MIND if he loses, then you are off to the races. I have a friend like that...what a guy! I can usually get away with jumping in on one or two good shoes without getting nasty looks, although I don't know that I would feel comfortable grinding away for several hours using this technique. Its just too obvious. Look around the casino. You will see people standing behind the table, cheering their buddies on. Make sure you act like them.
Either way, dive in and have fun. I started with not much more than you, and I made a little money. I got lucky. Luck counts. Just realize that there is no guarantee of winning if you don't have a sufficient bankroll, and don't be running for the ATM if you get down.