How to Partition hard Drive + install previous OS (10.7.2) on one, while leaving 10.8.4 on other
I assume you are trying to install using the OSX Installer app. This will not work; you MAY be successful making a bootable USB (you will find instructions by googling).

Even this may be confused by the later recovery partition, and would probably overwrite it.

Your best option may be to install on a new external HD.