I've used Artscape window film with great results. From what I remember, you just cut the film to size and use a squeegee and water with a bit of soap to adhere it to the glass. I'm not sure if they have a solid frosted pattern though. You'll most likely want to find a sheet big enough that you won't have any seams.
One alternative to drilling holes for standoffs is to get edge-mounted standoffs like these:
Otherwise, if you like the look of something like this (note, you'll have to buy the bases separately) better, use carbide drill bits specifically for glass cutting. Make sure you've got plenty of support for the glass sheet. Make sure you're far enough away from the edge - I'd leave no less than 1" between the edge and the hole. Start on one side and drill partway through. Stop before you reach the other side and flip the glass over. Drill through from the backside to avoid chipping or cracking the glass.