The thickness of Arctic sea ice plays a critical role in Earth's climate and ocean circulation. An accurate measurement of this parameter on synoptic scales at regular intervals would enable characterization of this important component for the understanding of ocean circulation and the global heat balance. Presented in this paper is a low frequency VHF interferometer technique and associated radar instrument design to measure sea ice thickness based on the use of backscatter correlation functions. The sea ice medium is represented as a multi-layered medium consisting of snow, sea-ice and sea water, with the interfaces between layers characterized as rough surfaces. This technique utilizes the correlation of two radar waves of different frequencies and incident and observation angles, scattered from the sea ice medium. The correlation functions relate information about the sea ice thickness. Inversion techniques such as the genetic algorithm, gradient descent, and least square methods, are used to derive sea ice thickness from the phase information related by the correlation functions. The radar instrument is designed to be implemented on a spacecraft and the initial test-bed will be on a Twin Otter aircraft. Radar system and instrument design and development parameters as well as some measurement requirements are reviewed. The ability to obtain reliable phase information for successful ice thickness retrieval for various thickness and surface interface geometries is examined.