*Can I do this?*
Yes you can:
Using your iPod as a storage drive
*Do I need to format my iPod for my Windows Laptop?*
Yes, if it's Mac formatted unless you install something like MacDrive on the PC so that Windows can read the drive you need to restore it in iTunes for Windows:
MacDrive
*can I format my iPod back to a Mac format to work with it?*
Yes, restore it in iTunes for Mac. Restoring will erase and reformat the iPod's hard drive, reload the software and put it back to default settings. Once the restore is complete follow the on screen instructions to name the iPod and automatically sync your songs and videos onto the fresh installation. Press Done and the iPod will appear in iTunes and start to sync. If you want to update manually or using selected playlists uncheck the box beside the sync automatically instruction and press Done, it will default to manual mode and you can choose whatever setting you like:
Restoring iPod to factory settings with iTunes 7