I find its always best to record each track individually ans save each one as an mp3 audacity can do this. the other alternative is to cut each track out of the mp3 and again save them individually the problem with what you have done is the resulting cd would be very inflexible as you wont be able to skip tracks or select specific tracks if you so choose. The other consideration is to save them at a bit rate of 192kbs (or less) which is the norm as the file size would be smaller. You should be able to get the whole LP onto one cd if you were to do this. Also consider using Nero to write the cd (i think there is some kind of free version of this)as you can add the tracks individually and also have the option to overburn the cd by a small amount but i think it shouldnt be neccesary

If you want to burn it as an mp3, you have to burn as a data file.

Burned this way it will still play as audio.