Absolutely not, you will kill it watering like that. You only water once the pot has gone dry and the plant starts to droop a little. It varies depending on conditions but that usually means every few days to weekly at first and then more as the plant gets bigger and uses water faster.
Watch some of these full length growing video's up here so you can also avoid all the other mistakes that will kill your baby:
http://www.youtube.com/profile?user=CannabisGardener&view=videos
Don't think that because the hydro systems run water a few times a day that you can do the same with soil. You can't.
And if you mean you have a 100w standard incandescent, you need to ditch that for cfl's or flouro's at least.
You could get a couple of these lights really cheap if you seriously want to grow and get ounces if done right:
http://forums.slickdeals.net/showthread.php?t=1096767
Growing is very easy once you know how though, and welcome to the forum...
Good luck.