Can someone give specific steps on how to implement hosting of a Django-based website using Amazon's EC2 hosting service?
Is that possible?
My website source code can be found here.
I searched and found this article.
But before doing anything I just want to get some basic ideas about Amazon EC2 hosting.
It certainly is possible, but it sounds like EC2 is not the best option for you. For examples of people doing it, see for example this or this.
In a very oversimplified sense, EC2 is just a server you can rent by the hour. You can have it run Windows or Linux, and then install Python and Django like you normally would. In fact there is probably an image that has Django preconfigured already.
You should understand that there are all different types of hosting out there. At one extreme, you can pay for your very own physical server, install your own operating system (like Windows or Linux), install your own Python, you own web server like Apache or IIS, your own Django libraries, your own database (like MySQL) etc, and then upload your web site to that. At the other extreme you can pay for an account on a shared hosting service, where someone else has done all the setup of the OS, Python, the web server, etc, and all you need to do is upload your web site code. EC2 is a lot closer to the first extreme, and is probably overkill for you. I think in your case you should be looking for a more managed solution.
I would check out this web page, which lists a bunch of different Django hosting companies:
Django hosting