How to become a reviewer for an engineering journal? I am a PG graduate working in an engineering college as an assistant professor. Currently I have got one and half year of experience in teaching. 

How to become a reviewer for an engineering journal? Do I need to pay money for that? Or by publishing paper in that journal can I become a reviewer?
The short answer for formatting a cv is that you should do it like others applying for similar jobs (or already in those jobs), but make it easier to scan if possible.  So find home pages of people who have jobs like the one you want, and read their cv's to see how they format them.

Now for your second question:
Most editors are often (constantly?) looking for new reviewers.  To get a chance to review a paper, you should 


let the editor know you'd like to review and 
give him or her some reason to trust that you'll do a good job.  


Accomplishing (1) is easy: simply send an email or tell the editor in person (for example if you meet him at a conference or visit his university).  Now (2) takes a little more work, but isn't hard.  Trusting you to review a paper is typically a low-risk gamble for an editor.  If you don't violate confidentiality (talk about the paper with others in more detail than you should), then about the worst outcome for the editor is that you fail to write a report, or write a lousy report.  That's less than ideal, but if it happens, they'll just ask someone else to review the paper.  All that is to say, you don't have to work too hard to convince an editor to let you review a paper.  So how do you do it?

As you suggested, one good way is to publish in that journal.  Others are publish in another related journal;  give clear intelligent talks on research in an area related to the journal; get a recommendation to the editor to use you to review, from a friend of yours who is more established in your field.

Once you do get an opportunity to review a paper, make sure you do a good job.  Mainly this involves: submitting your report on time, making a clear recommendation to accept or reject, and supporting your assessment with the strengths and weaknesses of the paper.  If you'd like more detail, that's another question by itself.