A buddy and I are sharing a server and I am wanting to know if I can have my own name servers for my clients like:

He is using ns1.intransit-designs.com and ns2. with his own ip.

If I wanted to setup my own name servers would I setup my client account to have its own ip and then just add a nameserver like the tutorial in this section?

As long as your registrar will allow you to create NS entries that tie to the same IP numbers your friend is currently using for his nameservers you won't even need your own dedicated IP numbers. You can simply set up your name servers, add a couple of DNS records so that they resolve correctly at the server level and you're good to go. The server will sort it all out when traffic makes it there.

Yea, godaddy isnt going to let me do it. So his domain is on x.x.x.206 and mine is on x.x.x.187 and I am using his nameserver for my domain. What kind of pointers in my DNS zone do I need to add so it will forward to my site? Right now I cant seem to access my site.