djuced recording problem

hi, im vernon out of suriname south america, i just purchased the hercules dj control air, but im having problems with the djuced software, this software only seems to record files in wav, unlike virtual dj. when im finished recording my mix, about 80 to 90 minutes, i get a too large file like 2.29 gb. i can play it in windows media player. but i cant burn it to disc, because i cant convert the file to mp3, i tried different converters but no luck. is there a way i can record mp3 in djuced. this really sucks man. hope you guys have a solution for me. thanx