There is actually an instructions booklet inside the Fellowship draft box - but it basically recommends having each player take 1 draft pack, 3 boosters (your choice on 3 fellowship or 1 of each - doesnt really matter), and then I believe everyone has their own Frodo/ring and perhaps setting aside the Balrog and sites.
I actually just played this way a few days ago and it was a ton of fun.
I recommend doing 1 of each if you have them but if not, 3 fellowship boosters works too.