Running an IdP is not all that difficult - it's just a web application that performs authentication and passes user attributes around. There is a very high level video about the AAF and federations available at http://www.aaf.edu.au/about/.
There is also plenty of documentation and guides about federations available. For AAF specific information we have the AAF Wiki: http://wiki.aaf.edu.au/home/, the AAF Knowledge base: http://support.aaf.edu.au/home and general technical information: http://wiki.aaf.edu.au/tech-info/.
Beyond the AAF there is the Shibboleth wiki: https://wiki.shibboleth.net/confluence/display/SHIB2/Home that documents the software generally used by federation participants.
On the policy side, the Federation Rules: https://aaf.edu.au/media/2016/01/AAF%20Federation%20Rules_June_27_2014.pdf which each subscriber needs to be compliant with. Details on the compliance requirements for the federation are available here: https://aaf.edu.au/subscribe/compliance.html. Every subscriber must provider a signed annual compliance statement.
For further information, contact AAF support: http://support.aaf.edu.au/home