DS had lots of colic, it was distressing for all of us but he grew out of it at 3 months, and got better at 6-8 weeks.

some stuff I did that helped:
fed him whenever he wanted, including for comfort
bicycle his legs
massage his feet (seemed to distract him)
battery operated baby swing - total lifesaver
co-slept some nights for a rest
burping after each feed
CD of womb-noises for sleeps

it might help with your sleep deprivation if you express a feed, then in the evening right after he goes for a sleep, take a nap and let your partner or a helper do the next feed. a way to get a few unbroken hours. makes the world of difference.