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The exact process is unknown and has changed much over time. Votes from power users will generally have more weight then votes from non power users (At least it used to be this way) also collectively votes from common friends will have less weight. So 10 Votes from 10 people that are all friends will not have the same weight as 10 votes from 10 random people. Bury's will also hurt the chance of becoming popular. The system also looks at the voting history of users, even if they are not friends if multiple users have a history of voting for the same items it will also lesson the weight of their vote. It also seems that too many votes very quickly together after being posted will also affect it negatively. Comments left will aslo probably help.

Not sure if it will work for you but I just found an app on Facebook called RSS Graffiti which lets you do pretty much what you asked above. I'm using it for a Fan page wall and my Classified ads based Wordpress site. Now my users post an ad on my site and they get double the exposure.