Walls and Ceilings - Help creating a coffered ceiling

I am looking to create a coffered ceiling in our living room or at least I think it is called a coffered ceiling. What I am essentially hoping to do is add a "bullhead" around the perimeter of our room which comes in about 18" from the walls and drops down about 4-6". Here is an image to show you want I am looking for. din1.jpg - File Shared from Box.net - Free Online File Storage (http://www.box.net/shared/jjx0e1kiqa)

I am planning on removing the existing drywall on the ceiling which is popcorn textured now and start fresh as I plan on adding pot lights as well.

My question is how to build the "bulkheads" around the room. Do I just create a long rectangular box sections out of 2x4s or 2x6s wood (depending on the drop I want) with supports every 16" and then attach this to the floor joists above? Just wondering what the best technique would be.

Yep, the best way is to frame down with 2x6's all the way around with ceiling joists at 16"oc, basically creating a sub ceiling, if you will. Cover it all with sheetrock and after finishing, add decorative crown or other molding to touch it off. Just make sure everywhere your boxing ends, there is a pick up point for the adjoining sheetrock. You don't want any sheetrock in mid air.