To create a partition, you need to use FIPS. I think what FIPS does is split an existing partition into 2 parts. To install Linux, you need at LEAST 2 partitions. One for / and one for swap memory (swap memory is like Window's virtual memory). Uhh. When you split the partition, the big one needs to be formatted to most likely EXT2 (or Extended Linux...something like that)...and the smaller one should be Linux Swap or Swap Space... Your swap partition should be double your RAM up to 128M. Recently swap space hasn't been that important due to the cheapness of extra memory.
If you can't change partition types in FIPS, you can probably use FDisk in linux during the Redhat installation. The Windows FDisk WILL NOT work for what you want to do.
If you read the Redhat installation manual, it should give you a much better idea what to do. Take a look at page 45.
Wow...it's been a long time since I've played with those graphical installations
If you have many more questions, I can possibly answer them...or direct you to a better forum to ask them in:
www.linuxnewbie.org 
http://www.redhat.com/docs/manuals/l...-x86-en-80.pdf
I haven't played around in Redhat since 6.1...I don't remember how it works
And if you have no operating systems on there yet, install Windows first. If you don't, you'll have to reinstall and reconfigure your boot record to be able to start both Linux and Windows.
Actually, glancing quickly over the installation manual, I notice that you may not need to partition the way I said. I think RedHat has tools in it's installation to do it. Much easier than what I said