Firstly let me say that if the goal is a lightweight HTTP server that serves PHP pages, this has already been done. Have a look at nginx.
As for a learning experience, you've chosen something that's actually fairly tough.
Multithreaded is hard at the best of times. On C/C++ (anything with manual memory allocation really) it's an order of magnitude harder.
Added to this is network communication. There are quirks to deal with, different versions of HTTP (mostly a non-issue now), all sorts of HTTP headers to deal with and so on.
The most intuitive solution to this problem is to have a process that listens to a port. When it receives a request, it spawns a process, which may exec to a PHP process if required.
This however does not scale. The first (obvious) optimization is to use threads instead of processes and some form of interthread communication. While this helps, it will still only scale so far.
Go beyond that and you're looking at async socket handling, which is fairly low level.
All of these however are fairly big projects.
Is there any particular reason you're doing this in C/C++? Or any particular reason you're learning one or both of those languages? These languages certainly have their place but they're increasingly becoming niche languages. Managed (garbage collected) languages/platforms have almost completely taken over. Joel argues that garbage collection is about the only huge productivity increase in programming in about the last 20 years and I tend to agree.