[WetWired]

First, make a new usergroup. At the top, choose to base it off of Registered, then hit go.
Next, change the name to Members. At the bottom, select to base permissions off the Registered usergroup, then make the group.
Now, on the dropdown for registered, choose Edit promotions.
On the edit promotions screen, choose add promotion. On the posts field, enter 2, then select posts as the promotion strategy. Select Members from the dropdown at the bottom, then accept the promotion.
Go to the scheduled task manager, find User Promotions, then hit Run Now.
Go back to the usergroup manager. You should see a lot of people in the Members group.
Now, edit the Registered usergroup. Find the option at the bottom something like "Follows normal moderation rules", and set it to no, which forces moderation for all posts by the usergroup. Also disable PMs. Accept the changes
You're set.