Ok so let us say I have a theme team and I play Armor Wars and my Opponent plays Ordinary Day. I would think that I could ignore his Ordinary Day and every time I hit Galactus he will take at least 1 damage. While if he hits my Impervious and I roll a 5 I take no damage...... Is this correct?

From the FAQ:

Q: How does Armor Wars get ignored by a themed team?
A: When the ignoring player’s characters are dealt damage, it would not be increased by Armor Wars, even if the themed team character has a damage reducer. When the other player is dealt damage, if damage dealt is reduced, then the effect of the battlefield condition would cause it to increase by 1.

and

Q: How does Ordinary Day get ignored by a themed team?
A: By ignoring Ordinary Day, the ignoring player creates a situation that is equivalent to a non-ignoring player being the one ignoring the other battlefield condition in play. For example, if Ordinary Day and Atlantis Rising are in play and a themed team ignores Ordinary Day, the ignoring team would be under the effects of Atlantis Rising, while non-ignoring teams would not.

So, in your case, you ignore the OD and that essentially reverses the first conditions with Armor Wars. Your characters will take extra damage if they have damage reducers and Galactus gets to sit there all nice and safe (since, as far as he is conernced, Armor Wars doesn't exist due to OD).

so I would want to ignore my own armor wars in that situation.

Or don't ignore anything at all. Ignoring BFCs is completely optional.