In addition to the Converter shipping with infiniMap there are numerous other tools to convert images to the JPEG 2000 or the ECW image file format:
Most of these compression tools will choke on images that are larger than your main memory. Also TIFF images beyond 2GB are a problem for most conversion tools (since the TIFF standard is only a 32bit standard 1)).
For large scale compression we recommend Power Compressor by Hexagon (http://www.hexagongeospatial.com/products/power-portfolio/compression - formerly ER Mapper) or Manifold® System by manifold.net (http://www.manifold.net) for the budget conscious.