What's best for you depends on a few things - what your goals are, where you're starting from, what you've been doing previously in terms of exercise AND how much time you have to devote to this challenge.
I gather that fat loss is your main goal, so just remember that diet is absolutely crucial to getting good results. You need to eat well 90% of the time, and a good mix of protein and low-GI carbs would be best. You can drop the carbs from your evening meal if you like, but don't go cutting them out earlier in the day or you'll wind up tired and crabby and probably find yourself eating the entire contents of the pantry by late afternoon.
As for protein drinks - get as much of your nutrition as possible from real food. Have a protein drink each day if you like - they're convenient. But they can make your digestion sluggish to say the least...so try not to be having too many. I find more than one leaves me in real trouble with pain and bloating and ....well, things just not moving, if you know what I mean. - It seems to be a common problem amongst a lot of people.
If you're fairly new to weight training, I'd suggest scheduling 3 sessions each week - perhaps split into upper and lower body, but you could start with a whole body workout if you like. Don't overdo the cardio. Have a rest day in between each weights session too. 3 short (20-30 minutes) sessions each week of interval training will do wonders for your fitness, and then you can add some lower intensity stuff - like walking. If you can devote an hour each day to exercise, you can get good results - more is OK if you have the time, but not essential.
There are some great articles on Amino Z worth reading too.