I would not at all recommend Limewire for such an action. There are brilliant torrent clients that do just what you are describing already. In my opinion Limewire in severely lacking in that area.

Well the rest of my post got lost so here is the short version

If these are legal files then have the torrents hosted at BitTorrent inc or use Azureus Vuse to host them.

BTW I hope that 1.2TB is a spelling error because noone wants files that big.