How to make an ice tire

1. Select a tire
New or old? -- Considerations: you should buy new tires for this. Why put 6 hours of work into something that is too warn and going to tear apart come race day.
Knobby or slick? -- Either could make a good ice tire, but the knobby one will have more support for the screws.
Narrow or fat? -- A narrow tire will have less rolling resistance (duh!). Remember that the screws will protrude the tire and come out at least 1 mm, possibly more, up to 3 mm (see section on selecting the screws), so the tire should be small enough to allow screws to clear frame and brakes.

2. Select screws

What size?-- recomended: 4x5/16 and 4x3/8.
Considerations:
Fatter screws, Thinner screws, Advantages, Last longer ? Weigh less, Large contact surface with ice,Deeper cut into ice, Generally, have larger head and lower risk of tube puncture, Are generally available in shorter length

Flat, star, or square?
Probably does not matter. However, depending on the quality of your tire liner, you might want to consider using screws that don't have sharp edges on the top of the head of the star or square. With a good tire liner it should not make any difference.
Metal, wood, gyprock?
The sharper the point, the better it is. It does not seem to make as much difference in the end. There is an argument for screws with hardened steel points, but they are difficult to find in a short enough size.
How many screws does it take?
A lot. Count the knobs in your tire, that should give you an idea. If you are using slick tires, you should have between 3 and 7 per every square inch. Its recommended to use 300 minimum for a 700 tire, 600-650 optimum.
You might consider ordering screws for your tires (as opposed to just picking them off a shelf), as it might turn out cheaper, and you will get exactly what you need.

3. Decide on the pattern of screws
You will probably want more screws on the sides then in the middle of the tire.

4. Drill pilot holes
Now that you have your tires and screws, drill pilot holes. Select a drill bit significantly smaller then your screws – so that the screws hold within the tire material. Try a cordless electric screwdriver for drilling – its a lot lighter then a drill, it costs less, and it although it rotates slower then a drill, it's fast enough to drill holes in rubber. Drill through meaty sections of the knobs from the outside of the tire. The resulting holes will close when you pull out the drill bit, but will leave enough of a mark inside the tire to find the hole later. This will probably take about an hour for each tire.

5. Drive the screws into the pilot holes through the inside of the tire.
• You might find your high-speed drill goes too fast. Use a screwdriver, it's easier.
• You will find it difficult to hold the tire in your hand when there are screws in it already, as your hand will come into contact with the sharp points of the screws. Last year, I put thick cardboard on the floor, and held the tire against it with my foot, which freed both my hands. However, I had to pick out the pieces of cardboard that got screwed onto the tire afterwards.
This will probably be the longest part of making ice tires and should take between 1 and 4 hours.

7. Set the tire onto wheel.
You might want to wear a construction glove for that.

8. Race!

Other considerations:
• Safety. Wear a helmet, glasses, and gloves when ice riding. Shin, knee, and elbow pads are also recommended; be mindful of the sharp studs rotating at high speed, i.e. dont let your turning wheels touch anything (body parts, other racers, clothes, etc) other then the surface you want to ride on.
• Using aluminum or steel rivets instead of screws. Makes a lighter tire, goes on pavement (which wears it extremely fast), could be suitable for commuting; peformance of new tire on ice only is untested, and after riding on asphalt the tire does not perform well in a skating rink race.
• Using a punch instead of a drill bit. Some say it causes less stress in the tire threads.