Find and mark the studs along the wall where you will install the tool shelves. Measure 24 inches up from the floor and mark a level line, 8-feet long. Measure up another 24 inches and mark a line and another 24 inches after that – this is the position of the three shelves.
Position a 2-by-1-inch plank, a shelf cleat, just under the first shelf line and screw in place with the 3-inch screws, two into every wall stud along the length. Repeat with the remaining two cleats on the other two shelf lines. The ends should be flush in a line up the wall.
Stand two 2-by-4-inch planks on their 2-inch edge and place a plywood shelf on top of them. Ensure that one edge of the plywood is exactly flush with the edge of one of the 2-by-4 planks. Screw the plywood shelf into the flush 2-by-4 with the 1 3/4 inch screws, one every 4-inches. Remove the plywood and its attached 2-by-4 and repeat until all the plywood shelves have a 2-by-4 attached to one edge.
Position a plywood shelf over the first cleat, the edge with the 2-by-4 at the front. Screw the shelf into the cleat using one 1 3/4-inch screw every 4 inches. The shelf will sag a little at this point, but will be level once attached to the remaining 2-by-4s, which will be side supports. Repeat with remaining plywood shelves.
Stand the remaining two 2-by-4 planks upright for the side supports, the 4-inch face flush against the ends of the shelves. Place the level on the bottom shelf and adjust its position against the 2-by-4 until the shelf is level. Screw the shelf to the upright 2-by-4 with two 3-inch screws in either end. Repeat with remaining shelves until they are all attached to the upright side supports.
Place the peg board pieces over either end of the shelves and screw in place with 1 3/4-inch screws. Your tool shelves are now ready to be filled.