The method of deleting a small clip in between where you want to split will work, but I do not like it because it is destructive, and it takes a long time because of the way iMovie does it.
The way I would do it is to use MPEG Streamclip, which is a free download from Squared 5.
In iMovie, right-click on your Event clip. Select "Reveal in Finder". Drag this Finder clip to MPEG Streamclip.
In MPEG Streamclip, type move the playhead to the "In" point of your desired clip, and type I to set the in. Then move the playhead to the "Out" point of your clip and type O to set the Out. Then FILE/EXPORT USING QUICKTIME and select the current codec.
This should give you a new clip without any transcoding. Repeat as many times as necessary to split into as many clips as you need.
Now, you can import these clips into imovie through FILE/IMPORT...MOVIE/from file. You can put them in separate Events if you like.
Hint: If you want iMovie to place your Event in the proper month and year, name your new clip clip-yyyy-mm-dd hh:mm:ss.ext, where hh is hours in 24 hour time, and let ext be provided by MPEG Streamclip. It should be the same as the current extension (e.g. .mov, .dv., etc.)
Once you have imported the split clips into imovie, you can delete the original Event.
This method works well, and is much faster than doing it in iMovie. I do this when I capture a VHS tape and it comes in as one long clip. I use this method to split it into logical clips.