seriously need some advice and suggestions
This project is a radio frequency receiver that will help the user to trace the direction and distance of transmitter beacon(s) operating at a certain frequency. Originally are plan was to make a transmitter that will constantly transmit rf signal and a receiver with an lcd that will display the signal strength which will help the user to determine the location of the transmitter by comparing the signal strength as the receiver antenna is being sweep. Since the project only depends on signal strength only the distance from the transmitter can be easily determined and the direction is somehow vague. Now our instructor wants us to use rf data transceivers both for the beacon and the locator, by comparing the time the data being sent from the locator to the beacon and the time the beacon sends back the data to the locator we can now determine the direction. Now here's our problem:First, it takes nanoseconds for the data transmission between the transceivers specially in close range, what microcontroller that can proccess at that speed should be used? Second, are there any rf data tranceiver module that can satisfy our project's requirements available here in the philippines? Third and lastly, we have'nt yet decided what frequency we should operate. Our plan is to use a directional antenna for the locator and an isotropic antenna for the beacon. Any suggestions?

....pls really need some advice. Thanks in advance