All you need is included in the LiveCD. Of course, you must burn it as *ISO IMAGE* cd, not just ordinary data cd.
BUT, before trying to resize any windows partition, please read twice the documentation.
http://gparted.sourceforge.net/documentation.php
There is even a special chapter on ntfs partitions. After resizing it, you must reboot into windows at least 2 or 3 times for check + adjust the filesystem.
It's better to do each step separately, not all steps together (resizing + creating new partitions + format etc). This is longer but safer.
*** It is highly recommended to backup any important files before doing resize/move operations. ***