I would like to take the original URL, truncate the query string parameters, and return a cleaned up version of the URL. I would like it to occur across the whole application, so performing through the global.asax would be ideal. Also, I think a 301 redirect would be in order as well.
ie.
in: www.website.com/default.aspx?utm_source=twitter&utm_medium=social-media
out: www.website.com/default.aspx
What would be the best way to achieve this?
Take a look at the UriBuilder class. You can create one with a url string, and the object will then parse this url and let you access just the elements you desire.