Using Vieta's formulas for x^2 - px + q = 0, we have the sum of roots as alpha + beta = p and the product as alpha*beta = q. We find the first root of the new equation by factoring the expression: (alpha^2 - beta^2)(alpha^3 - beta^3) = (alpha - beta)(alpha + beta) * (alpha - beta)(alpha^2 + alpha*beta + beta^2). Substituting the sum and product gives (p^2 - 4q)(p^2 - q). The second root simplifies as alpha^3*beta^2 + alpha^2*beta^3 = (alpha*beta)^2(alpha + beta) = p*q^2. The new quadratic equation is found using the identity y^2 - (sum of new roots)y + (product of new roots) = 0. The sum of the roots is p*q^2 + (p^2 - 4q)(p^2 - q) and the product is p*q^2 * (p^2 - 4q)(p^2 - q). Therefore, the required equation is y^2 + p{q^2 + (p^2 - 4q)(p^2 - q)}y + p^2*q^2(p^2 - 4q)(p^2 - q) = 0.