I don't aggressively shed hunt in the summer and fall because I transition into scouting and then into bow season. But you better believe that if I glass one up I am running over to pick it up.
The drawing will take place in mid April. I think sometime in May or June you can put your name on an alternate list to get any returned tags. Last year they all sold in the drawing and one would assume that would happen this year as well.
You should get a confirmation e-mail. In that e-mail you can open a pdf of your group application which will have your party #. This is how it was for me anyways.