|Your best alternative would be to use WinPlay3 which was released in Win16 and Win32 versions.|
WinPlay3 can play a large selection of files including MP3. It was last developed in May 1997 (v 2.3.b5) but I have no issues playing MP3 and CD from today.
Because the Wayback Machine can also archive files from the pages it crawls, you can download the files that are on the archived page:
IMPORTANT: the files that say Win16 will work on both Windows 3.x and Windows 95, the ones that say Win32 will only work on Windows 95 and later! Windows 95 is a hybrid 16/32-bit operating system, but Windows 3.x can mostly only run 16-bit code (excluding Win32s exceptions).
Hope this helps!