I've not used that API before, but according to MSDN, the only requirement is that the system be Win2K or newer.

1. You'd first create a queue & the queue probably should only be created once in your ocx
2. To add/remove timers to/from the queue, you would use: CreateTimerQueueTimer & DeleteTimerQueueTimer
3. When the queue is no longer needed, remove it with DeleteTimerQueueEx. Deleting the queue will delete any remaining timers that may still be in the queue