VBAdvanced will solve your needs
From there you can use an htaccess file to redirect from that domain to a several different pages.
However.... the sites must keep uniformity and must be obviously part of the same whole site otherwise you'll come dangerously close and perhaps cross the user agreement with vbulletin.
Here is my site for example.
www.mmogcommunities.com
from the mainpage you can see the various other mainpages. Like the mpsquad site
www.mmogcommunities.com/index.php?page=mpsquad
You can easily setup an htaccess file to redirect like
www.mpsquad.com to that new url.
Though right now the mpsquad chumps have an entrance page hosted elsewhere with a link to that url, but you get the point