Here's I would do this in PHP (if my simplified rules match the data):
<?php
$string='TO: CRZ-01491287 20061118 14:39:45 1C6216C157
FROM: A36MPQ41-04610686 20061118 14:39:44 1C6205C461
TXT
LIC/NBC123. LIY/07. LIT/PC.
NAM/AMBERG,AMANDA SUE.*RECORD DISSEMINATION RESTRICTED*
SNM/56528 ROCK POINT ROAD. CTY/PACOMIA. STA/MN. ZIP/90457.
VIN/2T1CE22P63C014569. VYR/03. VMA/TOYT.
VMO/CAMRY SOLARA SE,COUPE
EXM/AUG. DOB/19590515. STICKER:402208. ';
//create the $matches array
preg_match_all('#(\w+)/([^.\r]+)#',$string,$matches);
//create result array from capture groups
$result = array_combine($matches[1],$matches[2]);
//print result array
echo "<pre>".print_r($result,true);
?>
Here's the result:
Array
(
[LIC] => NBC123
[LIY] => 07
[LIT] => PC
[NAM] => AMBERG,AMANDA SUE
[SNM] => 56528 ROCK POINT ROAD
[CTY] => PACOMIA
[STA] => MN
[ZIP] => 90457
[VIN] => 2T1CE22P63C014569
[VYR] => 03
[VMA] => TOYT
[VMO] => CAMRY SOLARA SE,COUPE
[EXM] => AUG
[DOB] => 19590515
)