Hmm. This has been a tricky one. I was able to create a shortcut. It creates the shortcut in the same directory as the shortcut target, so it'll have to be renamed/moved/... afterwards.

code:
$objShell = CreateObject("Shell.Application")
$objFolderItem = $objShell.NameSpace("C:\Documents and Settings\Chris\Desktop\kixforms.zip").Self
$objFolderItem.InvokeVerb("Create &Shortcut")