To get started with Android for ARMv6/CyanogenMod, you'll need to get familiar with Git and Repo.
To initialize your local repository using the CyanogenMod trees, use a command like this:
repo init -u git://github.com/MSM7225/android.git -b ics
Then to sync up:
repo sync
sh vendor/cm/get-prebuilts
Build your device:
WIP
Flash ZIP:
out/target/product/DEVICENAME/cm-VERSION-DEVICENAME.zip
Please see the CyanogenMod Wiki for building instructions.