How to configure indentation in emacs lua-mode?

Complete emacs newbie here.

I'm using emacs 23.1.1 on Ubuntu with emacs starter kit. I primarily work in the lua-mode (installed with package-install lua-mode).

I need to tune how indentation works, so it would match my coding guidelines.

The guidelines are:

• tabs-to-spaces;
• two spaces per indent;
• 80 chars per line maximum, without trailing spaces.

Example:

local foo = function()
  print("Hello, world!")
end

What I get with emacs if I don't try to fight with its auto-indent:

local foo = function()
               print("Hello, world")
end

Update:

(This belongs to a comment, but since it needs extra formatting, I have to place it here.)

If I try solution by Thomas, I get this:

local foo = function()
               print("Hello, world")
        end

Note that end is indented with a tab and four spaces. Does not quite work...

Update 2:

This thing is also gets indented in the wrong way:

local bar = foo(
    "one",
    "two",
   baz(), -- Note three spaces
   "quo"
)  

It should be:

local bar = foo(
    "one",
    "two",
    baz(),
    "quo"
  )

Update 3:

Third case of the wrong indentation:

local bar = foo(
    "one",
    "two"
  )

  local t = 5 -- This line should not be indented, 
              -- also note tab between local and t.

Update 4:

Here is what I get with the current version from Thomas:

local foo = function()
               print("Hello, world")
        end

            local bar = 5 -- Emacs put \t before 5

            local zzz = foo( -- Emacs put \t before foo
                "one", -- Pressed TAB here twice