Installing XP

[winslow33]

I have a hard drive with two partions I want to do a dual-boot with. The one partion has Windows and all my files on it. Now, my CD drive has gone AWOL according to Windows, so I'm afraid it wont work to install the second windows either. I cant boot of a USB drive either, so installing off it is out of the question. So I have this solution: Copy the CD onto a thumb drive on my other computer, and copy setup off the thumb drive onto the clear partion of the hardrive, edit boot.ini to boot off that partion. Hopeing that will work, but heres the thing:
Will setup hang when I try to install XP onto the partion setup is currently installed on? I realize i wont be able to format it.