While the above is possible, it is more likely that you messed up the startup environment by mis-editing c:\boot.ini.
If you have a boot floppy, use it to boot. If Windows NT still won't boot, then you need to run a Repair / Repairing System Files, and then re-apply your latest service pack.
If you suspect that you messed up the c:\boot.ini file, run a Repair / Inspect Startup Environment.
When editing the c:\boot.ini file, besides making sure that the ARC path is correct, insure that you did not delete the default= entry. If you have a missing default=, Windows NT will display a NT (default) boot menu choice, and default to it. The Arc path used by this default is multi(0)disk(0)rdisk(0)partition(1)\WINNT. If Windows NT is not installed in C:\WinNT, the boot will fail with the subject error.
NOTE: You may be able to boot to an alternate install to fix the problem.
