I am using centos 4.6 on 2.6.9-67smp kernel
I need to update the kernel to 22.214.171.124
Do you really NEED to upgrade it, or you just want to?
If you really don't need to, I'd leave it alone. "If it ain't broke, don't fix it."
New kernels mean a reboot at a minimum, and possible packages breaking (due to depending on old kernel), and at worst the new kernel may not like your hardware, panic and fail.
Never build your own kernel, unless you have experience with it. Don't learn on a production machine.
If you do need to upgrade the kernel, I suggest you build a practice server, and learn on it. A dual-booting home or work pc is fine for this. Also, make sure you BACKUP that server before you upgrade!