Would it be possible to create a secondary Chat system on the site that i can set up only for officers. We tend to talk a lot during the day, and some of what we say probably shouldnt be aired out over public airwaves.

This is something I've given thought to, but I wouldn't implement just an "Officer chat" function, simply becuase that functionality would be wasted when I implement full-on chatrooms.

So, eventually, full-on chatrooms will be implemented, but for now, if you need a private discussion, you'll have to stick with the forums, IRC, or some IM software like Aim or ICQ.

when can we expect to see chat rooms come out?
Also, would it be possible to set up the chat to have different channels kind of like in game?

That's exactly what to expect. Whispers will also be implemented.

Afraid I don't have an ETA though.

The schedule for the next month at least is crazy and unpredictable...I couldn't possibly put out an applicable ETA for anything like that.