The most important thing you need for a virtual series is time. Lots of it, and then a little more. Also, decent writing skills help, or at least a good spellchecker.
If you just want to write one story, fanfiction.net is a good place to post it. If you are willing to try a whole series, you can do it on your own (Hellacious amounts of work) or with others. A good place to start finding people that share your interest in the show might be Yahoo! Groups. I’m a fan of 24, and there are a half dozen or so lists that you can join for that show. As far as people working in concert together, it depends on the group. If you are the leader, you can run it as a dictatorship or a democracy.
You will need a place to host your series. Yahoo offers free pages, like the one the Brimstone VS is using. If you are uncomfortable designing the site, PVT may host it for you (obviously, I can’t speak for them), where you would have to email all information you wanted posted, and they could do it for you. If you are person who likes to make frequent changes and updates *cough* *Derek*, then PVT might not be the way to go.
What show are you thinking about? Can I guess Birds of Prey or Firefly? Good luck, and keep us posted.