The long-time/large-scale, small-friction asymptotic for the one dimensional Langevin equation with a periodic potential is studied in this paper. It is shown that the Freidlin-Wentzell and central limit theorem (homogenization) limits commute. We prove that, in the combined small friction, long-time/large-scale limit the particle position converges weakly to a Brownian motion with a singular diffusion coefficient which we compute explicitly. We show that the same result is valid for a whole one parameter family of space/time rescalings. The proofs of our main results are based on some novel estimates on the resolvent of a hypoelliptic operator.