Control capable of rotating

I need to create a bounding rectangle control the likes of which are
common in paint programs (has handles on all sides for resizing the
image, etc.). This control needs to support rotation (i.e. I can grab
the top right corner and rotate the entire control). Is it possible to
accomplish this by subclassing (wndproc) or do I need to completely
write a control from scratch? I initially assumed the former, but now
believe the latter. Since the control can be in a position where all 4
corners have a unique y coordinate, I will need to handle the whole
process from knowing which of the controls my mouse is currently over,
to setting the cursors when on its edge, etc. As a matter of fact, it
sounds the parent container needs to know it's hosting these controls.
Anyway, any help would be appreciated.

~billy