I agree that skinny tires and a lay-down format are best.
I'd consider a 'sidecar' -like layout- with the side wheel halfway between the front and rear wheels - this lets you focus on something with a bicycle-like frontal area (remember that air resistance increases with the square of speed and the CUBE of frontal area).
Its possible that a 'sidecar' wheel layout is worse than a "Can-Am" - layout (2 wheels in front, 1 in back), or a "Trike" layout (2 in back, 1 wheel up front), but since you have to engineer some kind of steering and brakes, they need to be as low-profile as possible.
Lightest bicycle wheels you can afford - hardcore bike racers will buy carbon fiber wheels with wide spokes, If you can only afford traditional spokes, cover them with plastic/paper/aluminum foil(?) so that they become flat disks. Maybe remove every other spoke for weight savings (?)
If using bike wheels - pull the hubs, and replace the grease in there with a light weight oil (WD40 ?). Replace steel/Iron nuts and bolts with Aluminum or plastic ones.
I'm not an engineering genius - but these ideas are up for discussion.
-John