You need to find/use a sound application that will let you record
indefinitely ~ I'm not sure if you're currently using CoolEdit to record,
but it should certainly allow this, unless it's a 'demo' version with
specific limitations built in.
If that's the case, you can go to www.goldwave.com (I think) and get a
free application called goldwave ~ a very lightweight sound editor, but it
does have all the basic functions including waveform view, and it will let
you record indefinitely ~ I've used it for this purpose, recording from
the microphone in, for classes.
Btw you might want to find the 'volume control' for your PC (often
resident in the Windows taskbar, shown as a speaker cone), and check the
'mic input' level, to make sure it's reasonable...