Team work is crucial to the success of your project. Give your group a name. Communication is vital. At your first meeting establish a medium that you can use to communicate with each other - a Yahoo or Facebook group or Google docs to share project notes. Always keep in writing what decisions were made, who is doing what, what was accomplished, and problems or issues if any.
Exchange copies of your resume and schedules. Assess each other's skills. For every phase deliverable, there will be a team leader. Each person in the group will take turns in being a team leader for one phase of the project.
The team leader will be in charge of setting the agenda for meetings, writing the minutes, setting the schedule, collecting the work done by the team members and submitting the deliverable.
For any given phase of the project, the work has to be divided by consensus. Since you know each other's skills (from your resumes) you should make best use of them.
Before any final submission of a deliverable, your work must be posted on the electronic forum of your choice at least 24 hours before the deadline so that other team members may examine and ratify your work. Remember your grade depends on how well others are performing.