What happens when you inhale smoke from a fire?!

You should not be too worried provided it doesn't get any worse.
I would imagine that your lungs are feeling the effects of inhaling that much smoke but they will only be temporary. A clean supply of air will soon allow your lungs to recover. If your symptoms do not ease after 3 days, I would visit a doctor to be on the safe side. Although, I wouldn't expect them to last over two nights.
Depending on when the incident happened, it may well be that you're still in shock too. The body's reaction to inhaling unwanted matter is the same as an asthmatic reaction - it's an unproportionate over-reaction. Give yourself time to recover!

It depends on the temperature of the smoke. Generally when you inhale smoke, smoking or just being around smokers, it singes your lungs. Your lungs are made up of spongy cells, and your lungs are moist. Every time you breath in hot air like that it burns your cells. I would suggest staying away from smoke period.