Get a freedos image from: http://bootcd.narod.ru/images.htm
if you want a 1.44MB floppy image or choose another file which fits your needs.
Extract the floppy image from the zip archive, rename it to a more approriate name (e.g.: firmware.img) and mount the image.
Now you can put the firmware files (executables) on the image.
Unmount the image and put it in /ubcd/custom/
Add an entry in one of the syslinux config files.
and add this to the file:
MENU LABEL Firmware for hard disks
When you boot this image from the menu, you have to run the firmware programs from the command line. Remember that the files that you create after you have booted the image, aren't written back to the image (only stored in RAM), so if you want to save the old firmware, save those files directly on the USB stick.
Download Ultimate Boot CD v5.0
Use Parted Magic
for handling all partitioning task: http://partedmagic.com/