Haha, militant Islam will not be allowed under my roof mister! But seriously. I'll try to instill a foundation of Christianity in my kids at a young age and teach them to share and how to be good people. Hopefully I'll be able to find a decent church that isn't full of fundamentalist zealots. Hey, a guy can dream. Maybe I'll become an Episcopalian.
Teenage years, smoking and drinking will be forbidden because it's against the law, but every kid's going to do that stuff so you've got to be realistic about punishing them for those things. Weed too. I've had experience with all of it, so I know what's serious and what's not. Teenagers drinking beer and smoking a doobie every now and then is not something to lose sleep over. Hard drugs like coke, heroin, things like that will equal instant rehab.
No physical punishment. I got whipped pretty bad as a kid and I don't think kids should be hit by their parents. There are smarter ways to deal with young people.
I think telling kids the truth about things is better than "shielding" them from the real world just because they are young. Growing up, my mom was always bullsh*tting me about everything she thought I was too young to know. One funny instance of this was when I was in fourth grade, I was reading Jurassic Park and in the book, one of the lab technicians uses a turkey baster to impregnate one of the dinosaurs. Well, I didn't know what a turkey baster was so I asked my mom and she didn't tell me. She could have showed me, because I asked her in the kitchen, and told me it was for making turkeys juicy, but instead she automatically assumed I was asking something that I shouldn't be and so she didn't tell me. When kids ask you a question, withhold sordid details of course, but answer the damn question because inquirining minds need to grow.
Mandatory out-doors play as kids. I see too many roly-poly pale-faced kids today who sit inside all the time and play nintendo 24-hours a day. I'll encourage a lot of atheletics. Athletic activity and competition are good for the mind and the body.
And of course choosing a neighborhood with good people in it and good schools is very important.