Hydroponic growing eliminates the issue of too much water (or too little) because the plants have constant access to exactly the amount they need (which is roughly two quarts/day per plant). In addition, with a perfectly controlled environment, disease and insects are virtually eliminated.
Growing the old fashioned way may not be the best alternative because you can't always prevent tomato splitting (a rainstorm that dumps several inches of rain on your garden in a few hours will result in split tomatoes no matter what you do). If you must grow tomatoes the old-fashioned way, take these steps which will make it less likely that your tomatoes will split:
Water Regularly and Deeply. You should water your tomato plants every two to three days during the summer. When you water, water at ground level because spraying the leaves can result in the spread of diseases like blight and septoria (leaf spots and fungal rot), and water deeply. Regular, deep watering will reduce the effect of a sudden rainstorm, because your plants won't be going from dry conditions to sudden wet conditions, which causes splitting.
Mulch. Provide your plants with a good two to three inch layer of organic mulch such as straw, pine needles, or shredded bark. This will maintain more regular soil moisture levels, and you'll deal with less splitting.
Look for Resistant Varieties. In general, the thicker the skin, the less prone a tomato is to splitting. Most modern hybrids seem to resist splitting. The German Queen is a great hybrid that withstands blistering heat and humidity, making it an ideal choice for the South.
Splitting tomatoes are just one of those things that every vegetable garden seems to deal with at one time or another. The good news is that split tomatoes are still edible, so feel free to harvest and eat them. They won't store long, so be sure to eat or cook with them right away. Enjoy!