It's never too early to start. Most people take the approach of "what's the minimum I can do to run a marathon". This usually isn't the best approach (but it can still work). The attitude you have is a much better one.
Two years is probably a reasonable time frame for most people, even starting from where you are. However, two years is a long time to wait to achieve a goal. You'll need/want to set intermediate goals. This will help you measure/see progress and keep motivated.
My personal recommendation is not to make big changes, but be determined to make numerous small changes that get you to your goals. I'd hope that one of your long term goals would be to be on a lifetime journey to maintain fitness. It may never be the most important goal you have, but that's not the point.
On the getting started with running, first off, make sure that you have good shoes and socks. These are some of the most critical items you'll need. If you can find a store that caters to runners near you, go there, tell them that you want to get started and ask for their help. Most will be friendly and helpful. If they're not, look for someone else to give your business.
Also, I'd recommend that you find a book or two about beginning running (not beginning marathoning, look for one on beginning running). Personally, I start at the library and if I find a really good one, I go to the bookstore and buy it. This will help you learn a lot more and more quickly than asking questions because you won't always know what to ask (but keep asking when you do have questions!)
If you're social, look for a running group (that is beginner friendly). Much of the running that you do, even in training for a marathon, should be at a comfortable pace where you can carry on a conversation.
As to whether to start now or wait, that's tough to make a recommendation on without being you. However, I would recommend that no matter what, you try to find a way to improve your fitness. Even if that means finding a "cheesy" workout video and doing it in the living room (or whereever you have a TV) while you're kids play. That won't train you for a marathon, but it will help keep you fit so that it will be easier to start training for a marathon when you do have the time.
On diet, again, I wouldn't make big changes. Trying to start running, change your diet, keep in college, spend time with the kids, etc. all at once can be very tough. If you're adding running, do that now. After a month, once the running is a habit and built into your schedule, consider diet changes. (but don't take me too literally, if you want to eat a few less chips (or whatever) and a little more fresh fruit and veges, go ahead, just don't force yourself and don't make it a chore)
Oh yeah, last bit of advice. Don't be afraid to walk. Walking is better than stopping and sometimes, especially as a beginner, that's what makes sense.
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