Looking at $\mathbb Z/m\mathbb Z, \mathbb Z/n\mathbb Z$ as $\mathbb Z$ modules, how do we determine what $Ext^i(\mathbb Z/m\mathbb Z, \mathbb Z/n\mathbb Z)$ and $Tor_i(\mathbb Z/m\mathbb Z,\mathbb Z/n\mathbb Z)$ are for all $i$?
I know that $\mathbb Z$ is a projective module over itself and therefore, we get the following projective resolution: $$\cdots \rightarrow \mathbb{Z} \rightarrow \mathbb{Z} \xrightarrow{\times m} \mathbb{Z} \rightarrow Z/mZ \rightarrow 0$$
I am not sure what to do from here.
I'm not sure what you're trying to say with that exact sequence. The following is a projective resolution of $\Bbb Z/m\Bbb Z$:
$$0\to\Bbb Z\overset{\times m}{\to}\Bbb Z\to\Bbb Z/m\Bbb Z\to0$$
Then taking $\hom(-,\Bbb Z/n\Bbb Z)$, you get
$$0\to\hom(\Bbb Z/m\Bbb Z,\Bbb Z/n\Bbb Z)\to\hom(\Bbb Z,\Bbb Z/n\Bbb Z)\overset{\times m}{\to}\hom(\Bbb Z,\Bbb Z/n\Bbb Z)\to0$$
where the latter is not exact in general. Simplifying, you need to compute the cohomology groups of the chain
$$0\to\Bbb Z/n\Bbb Z\overset{\times m}{\to}\Bbb Z/n\Bbb Z\to0$$
which should be managable. Recall that by left exactness, the kernel of the left map is equal $\hom(\Bbb Z/m\Bbb Z,\Bbb Z/n\Bbb Z)$.