Most hardware RAID setups have a utility, more like a bios, where you create or manage the raid array. It will likely be the case in this instance, however you didn't post the card you are looking at so we can't say if its a good or badly supported card. I doubt it wouldn't be supported, but you never know. Also, your performance is going to drop with mirroring, not incredibly but some. RAID 1 (mirroring) simply creates 1 backup (mirror)drive in case the primary one fails. This is not a substitute for daily,weekly,monthly backups. It is meant for continued operation due to drive failure.
Tips
Create a scheduled backup plan, cause it doesn't sound like you have one.
Make at least 1 full backup before you do anything to that server.
Read up and do a search on "Redhat _____ raid card" inserting the card name/number
Make a second full backup, cause you can never have too many when you screwing with production servers.
Post the card so we can shoot down your idea, or tell you to go for it.