I've worked the race for the last 15 years now. Here's what I'd recommend.
Tickets: The best place to sit is high in the middle of any of the turns. Turns 1 and 4 are the most desirable. Next desirable would probably be high in the "Short Chutes" (between T1 and T2, between T3 and T4). Next would be high up on the outside of the front straight, and then high inside along Tower Terrace. I think IMS just put tickets on sale to the general public (after giving last year's holders the chance to renew) or are about to do so.
Hotels: Fortunately, the hotel inventory has increased around Indy and outrageous prices with three night minimums are no longer standards (though still exist at the higher end places). Outside of Indy, I'd look at lodging in Anderson, Terre Haute, or Bloomington. Camping is allowed in a vast expanse of grassly land known as the "Coke Lot" (named after the drink, not the drug)... but this is only recommended if you really like loud intoxicated people (often armed with illegal fireworks) around you until 3 AM.
Parking: You can "pre-pay" for a lot from the Speedway, or park on one of the many residential front yards around the track (the city grew around the track since 1909).
Shuttles: I'm not aware of any hotels that run shuttles to the race, but Indy transit runs them from downtown (Indy Zoo parking lot, IIRC) and another location.