Running embedded RedHat/Fedora Core from Flash Disk

Hans
Date: 09/14/04 

Date: Tue, 14 Sep 2004 22:58:25 +1000

I have an embedded PentiumII PC with
    * 128MB Flash Disk
    * 256MB RAM
    * Network card
    * Serial (RS232) port
    * Parallel printer port
    * ADC (Analog to Digital Converter) board
    * PIO (Parallel I/O) board
    * No hard disk
    * No graphics card

How can I embed the RedHat or Fedora Core 1/2 into Flash Disk ?
 (I'll access it via rsh or TELNET)