You jest? If not shame on you!
Google for heaven's sake.
https://www.microsoft.com/en-us/download/details.aspx?id=8002XP Mode is a free from MS optional download (<500MB) allowed with certain versions of Win7 like Pro to install a near enough full WinXP 32Bit OS on a virtual machine. You have the choice of what virtual machine software to use.
As an effectively separate OS it should have separate anti-virus/anti-malware protection particularly if used online.
IMHO installing AVAST or any other full AV suite is overkill and will just slow down the VM. As long as you're not using it for casual browsing and risky downloading a lighter weight alternative which doesn't have any issues when running on a VM installed Windows OS should be OK. At least that is the information I gleaned from my researches before installing it.
The VM is just a program which runs on the host machine so AVAST will include it and any shared drives/volumes during a Full System Scan. As long as you do that regularly I would have thought that made it a pretty safe set up. Isn't scanning from outside an OS, usually via disc or USB, one of the primary techniques used for finding and dealing with malware anyway?