So off to the Home remodeling store we went, and picked up some chalkboard paint. We realized that this wasn't going to be as easy as we thought. We wanted the chalkboard wall to be smooth, and sanding the drywall texture off of a painted wall was nearly impossible. Our solution was to use some of our leftover breadboard. We flipped it over and nailed it to the wall. The smooth side of the breadboard facing out worked out perfectly. We then used some drywall mud to fill in any seams and holes. We sanded the dried drywall mud, primed it, and then finally rolled on the chalkboard paint. To finish it off, my wonderful husband added some molding to frame it in.
Now we have a fun wall to create whatever we want, whenever we want.