The PATH environment variable should be a semi-colon delimited list of directories, not files. Find the tc.exe file in that tc directory. Sometimes programs have a bin folder so if you don't find a c:\tc\tc.exe then maybe look for a c:\tc\bin\tc.exe. Whichever directory you find it in, add that directory to your path (i.e. "set path=%path%;c:\tc", or "set path=%path%;c:\tc\bin")
Or get a compiler that isn't 10 years old Dev-C++ is a very decent one and it's free.