The best approach to making this form easy to launch is a macro, not a shortcut. To create a new instance of a custom form programmatically, use the Add method on the target folder's Items collection:
Set newItem = targetFolder.Items.Add("IPM.Post.YourFormName")
You can use the code at http://www.outlookcode.com/d/code/getfolder.htm to walk the folder hierarchy and return the MAPIFolder corresponding to a given path string.
See http://www.outlookcode.com/article.aspx?id=56 for other ideas.

Signature
Sue Mosher, Outlook MVP
Author of Microsoft Outlook 2007 Programming:
Jumpstart for Power Users and Administrators
http://www.outlookcode.com/article.aspx?id=54
> I've created a form called Budget Approval in a folder called Budgets in my
> personal email. What is the best way to create a shortcut to this form and
> folder?
> Thanks!