Simple "words of wisdom": it's not too early to start researching, presenting at conferences and trying to publish (especially in conference proceedings). The only requirement is that you have a good idea-- once you're ready, getting an early start is good.
Will you be an undergraduate student? If so, it's not too common for undergraduates to do independent research projects, but it is actually possible-- maybe take a year or two to settle in, but definitely consider working on something by your third year if you'd like to have it on your applications for grad school-- even something basic like a presentation at a small local conference can be helpful.
