If you don’t know anything about ripping video content, Handbrake is a good place to start. Regarding video codecs and best compression (filesize wise), I’d recommend x265 with HE-AAC (fdk-aac in particular). It will take longer to recode than x264, but it is worth it.
And 2 to 3GB is a lot more than what I had in mind. With x265, you can downsize it all to 700MB easy and get approximately the same quality as the DVD. If your target size is 2, 3GB, you could recode to x264, no need for x265.