The goal is to develop something similar to proxifier portable edition. However, there is no need to develop the GUI, profiles and features like that. The basic proxy engine which can by run by a non-admin user is needed.
Ideally, you are very familiar with winsock. You should deliver a product that is tested on different versions of windows - 32bit and 64bit xp and windows 7.
For the right person, there can be follow-on work as well.