You need to add the Windows "start" command to the mix. Something like this:

@echo off
start "" "c:\program files\ping plotter\pingplotter.exe" /TRACE:www.youserver1.com /minimize
start "" "c:\program files\ping plotter\pingplotter.exe" /TRACE:192.168.0.1 /minimize
start "" "c:\program files\ping plotter\pingplotter.exe" /TRACE:192.168.0.3 /minimize
...

That should get things working the way you expect.

Let us know if that leaves you with questions / problems.

- Pete