The beeps have meaning: http://support.apple.com/kb/TS4579
If it is a memory failure or other hardware problem you must address that first. From your description, the culprit is likely to be faulty memory. Fortunately that is easily fixed. Apple Hardware Test will perform a basic test for memory integrity. If it fails AHT, you found the problem. Write back for recommendations.
Faulty memory will also cause kernel panics. To decipher them read: http://support.apple.com/kb/TS3742
If necessary, read the following:
Read and follow all the steps.