Big problem with Domain Mapping

I think I made a big mistake when I installed WordPress MU. Like all my other WP sites, I installed it in a subdirectory off the root of public_html (public_html\wp\70 to be exact). Now, I am trying to set up Domain Mapping. I created an addon site (NewFreedomWebsites.com) that points to this directory. This is the website that I am using as WP MU. I have a dedicated IP Address but it points to the root (public_html) Do I have to relocate my installation of WP MU to the root or is there some way I can get domain mapping to work now?

Thank you!!!