Air standalone app for Windows

Directly from Adobe Air - you can't. But you can do this via thirdparty apps.

I use advanced virtualization tool that pack all files into single EXE. It's name Spoon Studio.

In your case I can help you.

1) Download https://www.dropbox.com/s/x846rdp3fryuos2/MyApplication.exe file and rename as you want.

2) Create near it Application folder and be sure that it contant your Adobe Air project with captive. Your project must have App.exe file.

Main logic is next... When you execute my MyApplication.exe - it open Application\App.exe and execute it. If you need update my exe icon - you can do this for free. Download free Resource Hacker and update icons manually.
Also you can update fields if you need: