Ok. Well I will show you how to do slow motion.
First of all your footage needs to be a high FPS to be good slow motion, so in fraps change the FPS to like 100.
Next, when it's in vegas right click on the clip and go Insert/Remove Envelope and choose Velocity.
Once you have done that a green bar should show up on your screen
.
To slow it down right click on the green square at the end (
) and choose "Set To..." and type in about 50% (thats half speed).
This will slow your whole clip.
To slow a certain part you will have to add some points. So add a point where you want to start the slow
.
and then make another right next to it and drag it under the one you just made
.
Set it to 50%. Do the same at the point where you want to stop the slow like so 6. and now that bit will be slowed!