Step 3: Export and Copy to Phone
Now goto File Export as (either wav or mp3) and save anywhere you want. Wait till it is done now just connect your phone to your computer and copy the fill to it (in Razors and SLVRS go to audio under the floder that is not iTunes) and goto your sounds option in the phones menu and Apply as a ringtone. (if it is a Razors or SLVR go to the change storage menu item and go to card and move to the phone off the microSD card)
And now you have made a song into a ringtone.