My DH travel about half the time.
I did go into my marriage knowing how important his career is to him. I would NEVER tell him he can't do it. He loves his job! Over the years we have tried to set up some grown rules...no missing Birthdays, graduations & holidays. He also tries his hardest to not be gone on the weekends.
I think it was really hard on me when the kids where little. We did not live near family...so I never got a break. Now that they are older (11, 13, 15 &17) it is much easier. Plus, I have another driver that can help with the driving. I can leave them home alone and run errands.
It can diffently be a challenge at times.

You will be responsible for: house hold emergencies, if car break downs, emergency room visits (broken arms & cut chins), the only parent for most school activities, parent/ teacher conferences, sports, sick children, you will also be the one who will have to explain why dad can not be there... for the million time.
I have tried to make dad's being gone as normal & yet fun as I can. The kids and I have our own 'little things' we do when dad is gone. It is even better if it is something Daddy hates to do!

We make breakfast for dinner, watch a movie and make popcorn, make meals that dad doesn't like, paint nails.
I also try to do something special for myself when he is gone.

I always get a good book to read. After the kids go to bed, I climb into my bed and read until I fall asleep. This, is something that drives my DH crazy. Or I rent a movie that I know he would hate to watch. I buy my self a small "treat" to eat after to kids go to bed.
As some one else posted...There are some perks to him traveling so much. We have used his frequent flier miles & hotel points to go on alot of great vacations. That we otherwise would not be able to afford. We have taken the kids to WDW a number of times, we have also gone to DL a few times, to Hawaii twice, it has also covered all our airfare for almost all are cruises.
You are the only one who know if this with work for 'your family'. Take your time to really think about it! It is not a decision that can be rushed.