I always used the way of -r in the command line to run different versions of mIRC...
Why does everyone copy mIRC 20 times to reach that?
C:\Program Files\mIRC\mIRC.exe -r"C:\Your mIRC Folder"

To make it run in the same folder...
C:\Program Files\mIRC\mIRC.exe -r"C:\Program Files\mIRC\mIRC.exe"

I got 4 shortcuts on my desktop for mIRC, all running the same programm with a different root directory.
Pretty simple imo...