How do I snip out a part of a larger .avi video

[teddyFBI]

I've got a 60-minute long, 349-MB .avi of me on one of the ESPN final table telecasts. Trouble is that I get all of 3 minutes of face time, so I want to somehow "clip" those 3 minutes of this very long (and large) video so that I can send it to friends. What kind of program would I need to do that?

I have Nero on my machine...can I use that? If not, is there freeware i can use?