As for the bindings, you press the appropriate binding so that when you press your PTT, you will be transmitting on that frequency/mode (UHF, VHF FM, VHF AM).
Note, there are two ways to use TARS and TS PTTs. You can either do the above and press the TARS keys to select which radio your normal TS PTT will broadcast on.
Or, you can use the more realistic method and just use the TARS keys to actually transmit over the relevant radio.
For example, if you set the TARS binds to Control + 1 for UHF, Control + 2 for VHF/AM and Control + 3 for VHF/FM. You can press Control+2 once and then use your normal TS PTT to talk on that radio. If you then want to talk on UHF, you'd need to press control + 1 to switch the TS PTT to talk on that channel. This methods is generally used, either, by people who have a very limited number of buttons on their stick/HOTAS or by people who don't know about the following.
The way I (any many others) use TARS, is to ignore the normal TS PTT altogether. I have my WH mic switch buttons bound to TARS for the respective radios as per real life, so mic switch down for UHF, forward for VHF/AM and back for VHF/FM. You just use them as 3 seperate PTTs for 3 seperate radios. As long as you are in the cockpit and TARS is running their is no need to touch the PTT button you have bound in TS. You'll only need the normal TS PTT when outside of the pit, or not running TARS.