Go to PATH_TO_XAMPP\apache\conf\extra\httpd-vhosts.conf. Open this file and uncomment line 19. You can add your virtual host on line 36.
<VirtualHost *:80>
DocumentRoot C:\YOUR_NEW_PATH
ServerName NEW_SERVER_NAME.localhost
<Directory C:\YOUR_NEW_PATH>
Order allow,deny
Allow from all
</Directory>
</VirtualHost>
Open your drivers hosts file at C:\Windows\System32\drivers\etc\hosts.
Add
127.0.0.1 NEW_SERVER_NAME.localhost #NEW_SERVER_NAME
to the end of the file (before the Spybot - Search & Destroy stuff if you have that installed).
Save this file and Restart Apache and enjoy.
<VirtualHost *:80>
DocumentRoot C:\YOUR_NEW_PATH
ServerName NEW_SERVER_NAME.localhost
<Directory C:\YOUR_NEW_PATH>
Order allow,deny
Allow from all
</Directory>
</VirtualHost>
Open your drivers hosts file at C:\Windows\System32\drivers\etc\hosts.
Add
127.0.0.1 NEW_SERVER_NAME.localhost #NEW_SERVER_NAME
to the end of the file (before the Spybot - Search & Destroy stuff if you have that installed).
Save this file and Restart Apache and enjoy.