Arduino RF transmitter and receiver

I'm looking to begin developing a small project with an arduino that will allow me to broadcast a radio frequency (as high as possible without breaking the law and doesn't require any special licence etc), read it and send it own as a serial burst so that I could read it in via unity or something else.

Basically, I'm trying to emulate the work this man has achieved: Homebrew RF Position Tracking System - YouTube

I know that there are some shields out there at the moment that will allow me to broadcast a 2.4GHz signal, but I'm worried about spending my money on the wrong one. So if you have more knowledge about this and could share some insight as to how maybe you'd go about trying to recreate this work, please let me know.