No don't eat 2 8ths of shrooms. That's a quarter ounce. For your first time, this is probably way too much. You want to see tracers, not lose your bloody damn mind!!!
Trust me, it's easy to lose control on such a massively heavy dose of psychedelics... it would most likely be temporary--like the duration of the time you are tripping--but it can be scary if you aren't experienced. I wasn't experienced with LSD at first; I took like six hits my first time, and tripped so hard I was laughing and crying all crazy. In retrospect, it was funny. At the time it was all happening, I was downright psychotic. I wrote a post about it somewhere...ahh the joys of breaking down your reality and losing control of your conscious mind!
I've smoked weed and taken an 8th of shrooms: I hallucinated so vividly, and my mind state of mind went to strange and far corners of my mind. It was fun. You should have fun if you have a good frame of mind going into your trip. Just remember, everything you feel emotionally will be intensified, sometimes to an uncomfortable level. That's when you can hit the bong and everything kind of comes back to normal.