I have a project which involves building a 64 x 48 (3072) LED matrix driven by a Raspberry PI computer. I am a first-year computer engineering student so I am still inexperienced with shift registers and multiplexers. I'm wondering what would be the most efficient way to go about multiplexing these LEDs. Some of my options include the MAX7219 multiplexers, or 74HC595 shift registers. In particular, I'm interested in knowing how much of each chip would be required to multiplex this matrix, and which would be the better way to go?
Also, in terms of power, I was thinking of using a power supply like this one to power all of these LEDs. Would that work or would I be faced with brightness issues and power draining driving all of these LEDs at once?
I'm also interested in hearing any tips or thoughts from someone with experience in a similar project in terms of things that could go wrong in a project this big with so many LEDs, and how I can prevent them.
The LEDs are 3mm super-bright red (5 Candela) rated at 1.9-2.1 DC Voltage and 20mA forward current.