One of the many quandaries of English language spelling: One should sound like "Own" as in "Lone", Two should shound like "T-Woo", Eight should sound like..."Eie-G-hut"!

1) The question could be: "How could the pronunciation of the "w" in "two" evolve in a way that "two" and "too" are now homophones? 2) "how significant it is that in the Indo-European languages, as Darmsteter has pointed out, the root meaning ‘two’ should connote badness. The Greek prefix dys- (as in dyspepsia) and the Latin dis- (as in dishonorable) are both derived from ‘duo.’ The cognate bis- gives a pejorative sense to such modern French words as bevue (’blunder,’ literally ‘two-sighted’). Traces of that ’second which leads you astray’ can be found in ‘dubious,’ ‘doubt’ and Zweifel–for to doubt is to be double-minded. Bunyan has his Mr. Facing-both-ways, and modern American slang its ‘two-timers.’ Obscurely and unconsciously wise, our language confirms the findings of the mystics and proclaims the essential badness of division–a word, incidentally, in which our old enemy ‘two’ makes another decisive appearance.”" Source and further information: http://alaymansphilosophy.wordpress.com/2008/08/01/two-etymology-excerpt-from-the-perennial-philosophy-by-aldous-huxley/ 3) "two O.E. twa, fem. and neut. form of twegen "two" (see twain), from P.Gmc. *twai (cf. O.S., O.Fris. twene, twa, O.N. tveir, tvau, Du. twee, O.H.G. zwene, zwo, Ger. zwei, Goth. twai), from PIE *duwo (cf. Skt. dvau, Avestan dva, Gk. duo, L. duo, O.Welsh dou, Lith. dvi, O.C.S. duva, first element in Hittite ta-ugash "two years old")." Source and further information: http://www.etymonline.com/index.php?term=two

The word "two" is said to have its origins in the old English word "twa" and the Scottish word "twae", from which we get the words "twain" and "twin".