Been a while since I installed an older game, but have you tried inserting the CD, hunting down the install.exe file on the CD, then right-clicking said file and checking off the option to run it in Win95 mode?
S'cuse me older and somewhat muddled mind, but I'm sure this worked for me before, if my memory serves me correctly.

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The lightning flashes through my skull; mine eyeballs ache and ache; my whole beaten brain seems as beheaded, and rolling on some stunning ground.
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