The Chandra Multiwavelength Plane (ChaMPlane) Survey is a project to identify a large sample of serendipitous X-ray sources in the galactic plane (|b| < ~ 10o), including cataclysmic variables, quiescent low mass X-ray binaries (qLMXBs: including both black hole and neutron star systems), Be X-ray binaries and stellar coronal sources (see Grindlay et al 2000, BAAS, 196, 37.07 for general description). ChaMPlane has been chosen by NOAO as a Long Term Survey Program. Deep (R ~ 24) NOAO 4m Mosaic images are obtained to identify CVs and qLMXBs by their ubiquitous Hα excess as ``blue'' objects in the R vs. (Hα -R) diagram. We have successfully conducted the ChaMPlane survey for the first year and obtained: deep images in the V, R, I and Hα bands for 13 Chandra fields (9 from CTIO and 4 from KPNO); corresponding serendipitous X-ray source fluxes and colors from 4 of these fields; and optical WIYN/Hydra multi-fiber spectra for a substantial sample of the X-ray sources and detected Hα -excess sources in two Chandra fields (J0422+32 and A0620-00). We will present our data analysis methods and complete photometry, spectroscopy and X-ray results for the field including GRO J0422+32. The first CV in the ChaMPlane survey has been detected with Mosaic imaging and confirmed with WIYN/Hydra spectroscopy. Several additional possible CV candidates are detected with imaging and spectra. However, these faint (R >= 22) Hα -excess objects will probably require slit spectroscopy and/or a larger telescope for definitive classification.