First get the image here: https://wiki.ubuntu.com/ARM/OMAP (panda board wiki is not up2date).
Installation at some point will trigger an X crash and reset.. (so you have to start over again configuring..) this goes into an endless loop.
So instead, switch to terminal, run
and reboot (sudo reboot).
Then, before installing the ti omap drivers/utils do a full apt-get update and apt-get upgrade and apt-get dist-upgrade then install the ti omap stuff ( the link in the unity dock). If you do it the wrong way around, you will loose X. (because the video driver could not be build).
(to fix this, do the apt-get upgrade/dist-upgrade and rerun dpkg-reconfigure on the -dkms package.)