Record a minute, then copy/paste to the required limit and then record over it.
But probably better to use a decent recording application.
CDWAVE - used to offer recording and cue-splitting in freeware mode, but this is no longer mentioned at the site.
http://www.techlogic.ca/r4/product.mv?5
Absolute MP3 Recorder - though it will actually record with any available codec, or as plain WAV if you prefer.