I know in order to launch servers you need one of these. I also do know that in the latest version it doesn't come with ethier (ithink it stoped in 2.6). I am gussing it didn't come with it because those versions are free. I really have wanted to host a server though. My friend who plays this game and intorduced me to it said that they had an new one but I would have to buy it.
I wanted to ask, where can I buy the new torilaunch.exe or how to get torilaunch to work with the newer versions. (Im using version 3.2 and I have torilaunch.exe from an earlier version.

There's a topic in the FAQ about this. Please make sure to read that board before posting questions.

In short: The new version of the program has not been released to the public, and may well not ever be. You can still create servers with older versions, but that apparently doesn't work very well. You could also rent a server for 50,000 Toricredits (I think that's the going rate).