Right click on Sites -> Add Website
Then fill fields, only watchout on port number, because if your default web site is running, you didn't stop it, then your new web site will not be able to start, since only one service can listen same port in the same time:
Open hosts file (as the administrator), in my case location of hosts file is in:
C:\Windows\System32\drivers\etc
Then I wrote:
127.0.0.1 myphotoalbum.milosev.com
Note that I wrote without port number, now in your browser you can write:
myphotoalbum.milosev.com:90