Well you need a deep Kettle. You want it deep because the steam produced is going to cause a violent rise in the bubbling oil level and will spill out if it is too shallow. Peanut Oil is a good oil to use. Fill the Kettle about 1/4th with oil, and stick a thermometer in. It should be enough oil that it will allow the amount of a batch of chips to be submerged. Heat the oil and when it reaches around 380 °F, you just drop in a lot of thinly sliced potatoes, skin and all. When you slice them, it is important that you immediately send them to the oil because they will oxidize and turn brown.
All purpose potatoes are your best bet. Don't use Russet as they don't have the right composition. Most chip makers use Atlantic (which btw I am growing this year
, among others). Deep fry until the oil settles (your temperature will drop significantly...which I forgot to mention have you potatoes at room temp before slicing) and the chips float (you can gauge at this point if you would like them brown or on the white side, but be warned that once they start to turn brown it seems to happen fast, and if you go too long they'll get burned and bitter). Fish them out with a wire mesh spoon, or slotted spoon. I use a cooling rack set on top of a sheet pan to cool. Sprinkle liberally with Sea Salt immediately. They keep best in a brown paper bag closed tightly.
It is worth it for the fun of it, but definitely not from an economic standpoint imho. I may make some again with my Atlantic's this year for kicks. I make 'chips' out of Jerusalem Artichoke and man are they superb!