Leave as much room in the vehicle as possible in case you find things to buy. Bring a cooler since you can be in the car for a long day. There are plenty of food options along the way, but bring some snacks so you don't have to cut much into your shopping time.
Start around 7 a.m. to beat the crowds. Start on either end of the route, but drive slow and watch for pedestrians. The route is filled with people on foot exploring the sales. Be prepared to pull over when you see something that interests you.
Bring small bills as most of the sellers will not have a lot of change. It's also hot in Virginia in August, so bring sunscreen and sunglasses.
Book a hotel early if you plan to go on Friday night. Some "early-bird" specials may be available on Friday night. The area also has plenty of antique stores and attractions such as the Luray Caverns and several Civil War battlefields.