DNS system setup

This project requires some creative thinking aswell as programming, as I am looking for someone to suggest a solution as well as implement it. I would like to Resell subdomains of existing internet domain names. For example. If I own the name *.[login to view URL] then I'd like to resell names like [login to view URL], or travel.cheap.com. Futhermore, I'd need to offer the email accounts "bob @ fly.cheap.com" I assume that this involves the setup of a DNS server, and I would need to have programmatic control over this, so that I could automatically set up subdomains after payment is recieved. The architecture is completely up for suggestion, and I'm looking forward to hearing your ideas.