From BHZ:
Today at 1PM Chicago time, there will be a trade freeze throughout the NHL. All 30 teams will then be required to submit their list of 18 skaters and two goaltenders to the NHL. The protected lists are then released to the public on Wednesday by the NHL.
At 11am Chicago time on Friday, the Waiver draft will take place. Basically the rules are pretty simple. Teams can not lose more than three players in the draft unless they select other players. Once a team selects a player, they need to expose somebody else. Once a team has a player selected, they can then protect another player. All playoff teams do not get to select in the first round, only the non playoff teams. No team can lose more than one goalie.
Once the draft is complete on Friday, the NHL will release the results publicly. There is nowhere to view the draft as it happens since it takes place via teleconference call.