I really like this idea.
Not sure if this is even possible, but if it ends up happening, I feel like it needs to be something other than just a sticky thread directing us there. I think a TOTM/TOTW little side widget (like UOTM info, Statuses, Twitter Updates, etc) would be great. Have the thread title, a small description about the thread and the creator, and have it link to it.
So I think it should be weekly. Having it monthly just makes it a bit dull IMO and way too similar to UOTM. If it's weekly, it will promote great and constant activity, and the great thing is it does not necessarily have to be zombies related. Could be a well received site/community thread, or even just a great story. Basically all threads have a chance at being TOTW. Not to mention, some gems that may not get seen could have traffic directed too it.
The minimum requirements being eligible? Not to sure, I was going to say the usual 1 month/100 posts thing, but there have been some great threads from users who don't meet these requirements. I think if their threads were nominated or got TOTW, I'd like to think this would reinforce to these people to stick around at CoDz.
So I hope we do weekly. I think Saturday would be the best day to take nominations or whatever, because it's at the end of the week. All threads from the start of the week (Sunday) till the end (Saturday, that day) can all be nominated. Than it's awarded Sunday, the next day. Wait a week, rinse and repeat with a new thread. Basically how we do UOTM but in a shorter time frame.
But if we do monthly, it could basically just follow how UOTM does it.
Not sure about the sufficient activity question either, that goes into the nomination area. What do you nominate for? Views, Comment, Brains? Or just that you liked the thread? Some will vote because they want more attention and activity on a thread, not necessarily a bad thing. This will probably a hard one to decide. The question at the end of the day is, which thread do you want to see in the spotlight for one week?
I think a medal should be included. It's a site related award in the same vein as UOTM, that everyone can get. I don't think it will be to hard for everyone to achieve it, and that's alright. Not all medals have to be hard to achieve or rare to have. Most likely, we'll end up with people winning TOTW multiple times.
All in all, if done weekly, I think this will really help people when nominating and voting in UOTM. There's basically 4 examples of good threads to choose from that will help make your mind up if you're having trouble nominating or voting.