Bottom bracket help!

That looks a LONG way outboard to me. Here's a collection of common mistakes when doing a 1st build, all of which are easily doable, but after you have done them once, hopefully you won't make the same mistakes again:

• BB spindles come in different lengths (from close to 100mm to over 120mm)
  
• BB spindles come in different tapers (ISO and JIS)
  
• BB cups come in a variety of different sizes and thread directions (English, French, Italian...)
  
• Cranks almost always specify the length they need for correct chainline (particularly crucial if you are running fixed/ss). It is highly unlikely that just whopping any old BB and cranks together is going to be acceptable.
  
  

I'd suggest that you swot up here:

http://sheldonbrown.com/bbsize.html

http://sheldonbrown.com/chainline.html

Sam