I've posted a ZIP file of a VMD installation image
which you can unpack onto your machine for you here:
  http://www.ks.uiuc.edu/Research/vmd/vmd-1.8.5/files/vmd185winxp.zip

Copy the contained "VMD" directory it into into your system directory:
  c:\Program Files (x86)\University of Illinois\

When properly copied in/installed, you can then run VMD by
double clicking on the "vmd.exe" file in:
  c:\Program Files (x86)\University of Illinois\VMD\VMD.exe

Cheers,
  John Stone
  vmd@ks.uiuc.edu