Short answer, you don't need to do anything to make a program run with the rights of the user that spawned it. This is standard for windows systems.
To force a program to execute as an entirely differant user, as SetUID does, Microsoft has provided the Runas command, which you can use to invoke an executable under a differant users credentials.
Additionally, on UAC enabled systems like Windows 7, you can hold Shift + Right-click on an executable, to run the program under a differant user, and invoke that users administrator rights if required.
Please note, the answer below is related to the original question about Sticky.
To directly answer your question, Yes and no. One can emulate the function, but the application is entirely differant.
I think you may be confusing the Sticky bit with the other special unix permissions SetUID and SetGID, both of which affect how applications execute in relation to the user invoking the process, but Sticky does not.
Sticky will allow no user, other than root or the Owner-user, to delete or rename a file, even if the user has Write rights, and can thus edit the file.
In the Advanced Permisions window (from an objects Properties -> Security tab -> Advanced), you can Add or Edit permissions for the
CREATOR OWNER "user" and grant them permissions
Delete subfolders and files. Then for every other entity in the ACL, revoke (but don't Deny) those same permissions.
This will allow all users with write to create/edit any file, but only the file owner can delete it.
Note that this approach also has the same flaw that Sticky has: that any user with edit rights, may overwrite the file with 0B, which is conceptually simmilar to deleting the file (many argue that its as-good-as...).