Windows and WinZIP will only allow a total of 256 characters for a folder/path. The only way around it it to move the files into a shortened path.... eg: C:\Misc\*.* or by shortening the folder names (before atttempting to zip) to something like C:\Misc (for Miscellaneous) or C:\Progra~1 (for C:\Program Files) or C:\Docs (for Documents and Settings).
After zipping, you can rename the folders back to their normal full length names. It's time consuming but workable. You might also try WinRAR as I believe it has 4 more character totals than WinZIP does for a total of 260 characters. You might get some more help by reading this document: