I think you are being a little alarmist here. File formats like jpg and png have no 'executable' aspect to them. They are simply read and displayed. The only way you could make such a file malicious in-and-of-itself would be to exploit some buffer overrun bug within usual rendering software, such as a browser. Since image rendering is pretty basic, this type of situation is highly unlikely to occur.
The only plausible way to make a jpg/png file malicious is to trick the destination system into thinking that some 'extra' processing is required for the file type. For example, if you modify the registry to change the default behavior associated with double-clicking on a jpg file, so that it is treated differently, then all bets are off. As I originally stated, this requires some other malware execute first.
Notice I did not include gif format in here. The gif standard allows for animations, which means there is an 'executable' aspect to the file. While I believe the scope of what can be executed within a gif is very limited, I don't know enough about it to say for sure that it could not be hijacked for nefarious purposes