tips on asphalt driveaway replacement?

Adding a driveway replacement to the list of things to have done in the near future...i.e. next year or two. Snow blower is throwing more rocks in some areas than snow. I'm not sure what's underneath the current driveway, but if I had to guess, it had minimal amount of prep and foundation. So, after it's removed, what is the proper way to have a solid foundation put in and topped with the correct asphalt? Is there such a thing as "highway grade"? One friend had his done and he said to make sure they use a 20-ton vibratory compactor. Well, that's all I know. Thanks for any and all advice and guidance!