007, here are some answers that may help:
Iliotibial band friction syndrome (ITBFS as some journals call it) is usually a chronic condition exacerbated by the body's normal physiology, usually which causes an alignment problem that causes the band to become irritated and painful as it rubs back and forth on the outside of the knee joint when the knee is repeatedly flexed. Recovery really varies a lot between person to person. Some self-aid methods include icing it after activity and when showering, running hot water, as hot as you can stand, for an extended period on the affected area. Professional medical treatment may see anti-inflammatories prescribed and the use of ultrasound on the affected area to heat it from inside the body and relax/stretch the tendon. There are a number of stretches you should also be doing to help yourself as much as you can - do these before and after activity, first thing in the morning and last thing at night, as a minimum. Info on ITBFS and some good stretches are in here:
http://www.time-to-run.com/injuries/thebig5/itb.htm
http://www.drpribut.com/sports/spgait.html
http://www.ourfootdoctor.com/yourfeet_iliotibial.shtml
http://www.ovphysio.com/injuries/runners.htm
http://www.coolrunning.com/engine/2/2_1/126.shtml
A major ITBFS cause for a lot of people is a mechanical or alignment problem, which, if not corrected, will cause it to recur. Make sure you have good shoes, not worn out, properly fitted and suited to your foot's arch and your footstrike/walk/stride method. This is the first step and often the most important, particularly if you have just started running, changed your physical activity level or other aspect of your training.
If you have not had a foot-strike or gait analysis done, get either the military physiotherapists or a reputable shop (Running Room is good) to do one for you to recommend shoes if a change in your footwear is required - even if brand new, the wrong shoes for your pronation pattern and weight distribution will injure you. If you can, go to the Running Room (10% discount for military) and chat with the folks there - someone may be able to look at the way you run and make some recommendations. I find the staff there to be usually very knowledgeable, ready to sell you the right shoe, not just the most expensive one.
If you can't run while you are healing, get on the elliptical runner, stationary bike and start swimming. You should balance these activities with each other anyhow and swimming is a fantastic way to stay whole-body fit, no matter how good a shape you are in. One method many believe is best to burn fat is the LSD - Long Slow Distance method. Work at 50-60% of your max heart rate (normally 220 minus your age will give you an approx MHR in beats per minute) for a sustained time of 40+ minutes per session. However, there are differing opinions out there - http://www.findarticles.com/p/articles/mi_m0846/is_7_24/ai_n13606403. In either case, sign out a heart rate monitor from PSP or buy one (Polar is the best brand I have found) which will let you make sure you are putting the proper effort into your workouts but not overtraining, and get one of the fitness instructors to work out a program for you. Do circuit training and calisthenics as well, and jump rope if you can based on your pain tolerance.
Look at this and other sites to learn more about the biomechanics of your legs and feet - http://www.drpribut.com/sports/sportframe.html.
There are lots of methods out there, but don't injure yourself needlessly. FYI I am a long-time runner with some fairly serious lower limb issues that cause a lot of pain if I don't take care of them.
I would not buy any shoes from a place like Athlete's World, SportChek or Footlocker, particularly if you are unsure of what you are looking for as the salespeople in these places are usually not very knowledgeable and they deal more in 'fashion' athletic shoes than 'real' runners.
If you are heavier and have an over pronation issues, you need a motion control or stability shoe, if you under-pronate you need cushioning. A lot of people do not have a neutral gait. Here are some good resources to read up on pronation/supination:
http://www.thefinalsprint.com/2006/12/foot-type-pronation-and-the-choosing-the-right-shoes/
http://www.runningwarehouse.com/learningcenter/PickShoe.html
I find New Balance to be the best in terms of options, sizes including width differences and a lot of their shoes are stability/motion control. I have tried Brooks, Adidas, Fila and Mizuno, but sworn by New Balance shoes for more than 10 years now (with Mizuno a close second as a backup pair). Many New Balance models are particularly suited to heavier runners as well. Browse through the shoes under "motion control" and "stability" for a look.
http://www.newbalance.com/productbrowser/product.html?product_type=shoe&gender=Men&sport=Running
Your shoes will break down inside and become worn out even though soles and outsides will look functional - depending on the amount you run, you may get as little as 6 months from a pair. My knees always let me know when it's time to start thinking about a new pair. You should try to overlap your shoes - when you get new ones, run in them a little at a time as they may give you blisters or some pain when you are first getting used to them. If you only run occasionally you will get more life out of them. It can be expensive, but with running shoes, if you have foot/knee/alignment/pain problems, you get what you pay for - you can run in $20 shoes from Giant Tiger but may pay for it in pain.
If nothing works, you may be prescribed orthotics, which will help to mechanically align your knees, legs and feet and keep the ITB from rubbing so much and becoming painful.
As far as being kicked out, you will not be medically released until every effort has been made to fix the problem. That being said, YOU are a big part of the solution, so you will need to work hard, listen to the docs and help yourself.
How do I know all this? I've had ITBFS for more than 10 years now, but have managed to control it with proper shoes, stretching, maintaining high activity level, orthotics and knowledge. It hasn't stopped me from jumping, doing the Petawawa Ironman or other soldierly activities. You can work to fix it, with some medical help. The ball is in your court. Best of luck, hope you can solve your problem soon.
Final note about your post, just some friendly advice: Punctuation works well. Use more. Capitals start sentences and periods end them. Use the Spell Check button before you post and cut down on the "MSN Speak" - on this board, it's "you" not "u". Welcome.