Do you currently have a running OS/2 partition, either Warp 3 or Warp 4 (or any build of eCS)? And do you have a CD burner on your system? If the answer is yes, you've got the basics of what you need to create an updated bootable install CD.You'll also need to grab UpdCD at:
http://xenia.sote.hu/~kadzsol/rexx/sajat/updcd.htm
And head over to the CDWriting webpage at:
http://www.os2world.com/cdwriting/
From there click on the "What do you need" and grab the CDRecord/2, the EMX Runtime (if it isn't already installed), and the ASPIRout.sys driver, also recommended is the DaniATAPI.flt and Dani506.add drivers.
Get all of the above installed, and use UpdCD to create a new CD disk image. Follow the directions about how to get that CD image bootable. And then burn away!
If you don't want to mess with installing CDRecord/2 and other stuff needed to get burning working, you can still create an ISO image with UpdCD, and then use any CD burning application on any operating system to burn your bootable CD.
Hope this helps.