I'm relatively new with recording. I've tested out some acoustic guitar stuff before, but I want to try out recording a metal song. I bought the BIAS Amp 2 plugin, which I want to record guitar with. I'm just not sure where to install it in SONAR Artist.

Try the f/x bin on your guitar track.

you install it in C-program file-cakewalk-VST folder or
                      C-program file X86-cakewalk-VST

#1- Plug in needs to be installed (look for the cakewalk-VST folders in X32/X64/CommonFilesVST3
#2- Sonar/Bandlab needs to be able to see this plug in after its installed
#3- Seeing the plug in (#2) means you might need to do a scan of your plug ins if manually scan is selected
#4- Click in the FX bin to insert said FX.
 
If there is a problem its because the plug ins are not being seen by Sonar/Bandlab. that could be due to either #1 or #3.
 
Also remember once the plug in is inserted to the FX bin you need to have "Input Echo" enabled in order to use Amp Sims.
 
 

Installing it under Cakewalk keeps everything nice and tidy in one place... but you can actually install vst's anywhere you want as long as you include it's location path in the Plugin Manager so it can find it during the scan.

Obligatory suggestion here.
 
Once you have it working in Artist, take advantage of your free upgrade to Cakewalk, the successor to SONAR. Faster, stabler, more features, and you can install it right alongside Artist if you have any doubts: http://www.bandlab.com/cakewalk

And, you can't actually "record with"  the plug-in. It's applied to the output, not the input, so it isn't recorded.