>I want to use the up and down arrow key to replace the TAB and Shift Tab Key
>for move the cursor between the control on a Form.

You can use the form key press event handler such as:

Private Sub Form1_KeyPress(ByVal sender As Object, ByVal e As System.Windows.Forms.KeyPressEventArgs) Handles MyBase.KeyPress
     If e.KeyCode = Something Then 
        Simulate TAB or Shift Tab key here
     End If 
End Sub