is there any way that i can host like my own .com forwarding service like .tk does (dot.tk). and does this have anything in the world to do with DNS servers??

Joey may be able to help you better with this question, he knows all about dns services.

I'm pretty sure you can, you need to first purchase the domain name, then setup "bind" on your computer, and make all the domain forwarders in your domain's zone file. That's as much as i know

tourettes pretty much summed it all up.