What you need to do is set the Ram to 1:1 with the FSB. That way, when you raise the FSB to 166, your Ram will be running at its rated speed of 166mhz ( 333 or PC2700 ).
Return the CPU External Frequency (FSB) to 133, then set DRam Frequency to [AUTO] in the BIOS. Boot Windows & see at what speed the Ram is running. If it's running at 133mhz ( 266 ), then it is running in sync with the FSB which is what you want.
You can now resume your OCing. Raise the FSB bump by bump until you reach 166mhz & see if the Ram is indeed running at 166mhz too.