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They don't have their own parking lot. However, if you can't find street parking, you can park directly across the street in Motorco's parking lot. They charge $3/car, and give you a voucher that you can redeem at Motorco OR Fullsteam for $3 off your bar tab. So as long as you buy 1 beer, parking is free.
I've been to a number of large gatherings at Fullsteam. Yes, it can get crowded, especially at that time of day during graduation season, but if you get there early to stake out some tables and be just fine. Plus, if it's a nice day, the party can overflow to the outside areas. I'd say go for it and have fun.