Disclaimer: this is completely untested.
First, on Form_Load you'll want to use the SetWindowPos API to put your form below all others:
Private Const SWP_NOSIZE = &H1
Private Const SWP_NOMOVE = &H2
Private Const HWND_BOTTOM = 1
Private Declare Function SetWindowPos Lib "user32" (ByVal hwnd As Long, ByVal hWndInsertAfter As Long, ByVal x As Long, ByVal y As Long, ByVal cx As Long, ByVal cy As Long, ByVal wFlags As Long) As Long
' Somewhere in form_load...
RetVal = SetWindowPos(Me.hwnd, HWND_BOTTOM, 0, 0, 0, 0, SWP_NOMOVE Or SWP_NOSIZE)
If that is not enough, you will probably need to subclass the form and watch for WM_ACTIVATE and/or WM_MOUSEACTIVATE and redirect those messages. For WM_MOUSEACTIVATE, redirecting to MA_NOACTIVATE could work; for the WM_ACTIVATE message, redirect to WA_INACTIVE.