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Good Question,
(1)you can do easily like You could of course use tinyurl.com or some other free URL redirect, however people always prefer a .com or co.uk domain ending,
(2)second thing is tools available for download at Leenkz.Com.
Membership is required, so if you want it for free so it'll not help you, but if you dont mind the one time $10.00 member fee, lots of downloads are available.
(3) freelinkcloaker.com/
requires domain name, or just create a subdomain)
If you're using wordpress theres a few free addons for it like WP-Affiliate.
I hope, you will get ideas if you are still looking for the help.
Thanks
Paul
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