to smooth out the volume you need to do a bit of compression, just not so much that it is audible, i hate hearing audible compression on guitars,.. i think in audition 2.0 there is a preset for guitars that you could use as a starting point. besides compression you could probably also get away with making a volume envelope to bring down the loud spots. also, it may help if you eq some of the low end out of the guitar. i'm sure someone with more experience can give you some specifics on how to set the compressor and all.
good luck
~barry