depends what games you are going to upload, for newer games just create an iso of the game, you can do this with either Nero or CloneCD, for older DOS based games just .zip or .exe file will normally do.

Pretty much once you have those files created open LW click on Library tab and click share on files you wish to share.

Torrents however i'm not really familiar with, one of the other members here might be able to help you with that.