Does my site have to have a certain ammount of hits to qualify for Adsense?

There are no traffic requirements or restrictions.

Here is a quote from Adsense:

Google AdSense and AdSense for search is open to website publishers of all sizes. Please read our program policies to ensure that your content fits in to our guidelines.

To read more about Adsense's policy regarding this just click here.

Is My Site Eligible For Adsense?

The person who could best answer that question would be adsense themselves. Before being able to add the adsense coding to your site you have to first submit the url of your site to adsense so that they can review and approve it. There are some sites that adsense will not approve:

Sites displaying Google ads may not include:

• Violent content, racial intolerance, or advocacy against any individual, group, or organization
  

• Pornography, adult, or mature content
  

• Hacking/cracking content
  
  
• Illicit drugs and drug paraphernalia
  
  
• Excessive profanity
  
  
• Gambling or casino-related content
  

• Content regarding programs which compensate users for clicking on ads or offers, performing searches, surfing websites, or reading emails
  

• Excessive, repetitive, or irrelevant keywords in the content or code of web pages
  

• Deceptive or manipulative content or construction to improve your site's search engine ranking, e.g., your site's PageRank
  

• Sales or promotion of weapons or ammunition (e.g., firearms, fighting knives, stun guns)
  

• Sales or promotion of beer or hard alcohol
  
  
• Sales or promotion of tobacco or tobacco-related products
  
  
• Sales or promotion of prescription drugs
  
  
• Sales or promotion of products that are replicas or imitations of designer goods
  
  
• Sales or distribution of term papers or student essays
  

• Any other content that is illegal, promotes illegal activity, or infringes on the legal rights of others

You can find out more by going to the adsense help files