Yes, I understand how that could be confusing. Here's your problem.
When an audio file is on your computer, it is generally compressed with mp3 or ogg or something like that. It might even be an uncompressed wav file. And all of those will be different sizes.
But none of that matters when it is burned to a CD. If you are burning an audio CD, there is a specific format which the data on the CD is encoded in, which is totally different from the format the audio is in on your computer or on a data CD. This format takes the equivalent of some 9.8 megs of space for every minute of audio burned, which works out to each CD only being able to hold 80 minutes of audio. This is always the same no matter what the source file, since your burning program expands the file out to the large CD format.
You have two solutions to this problem. The first is to break your file up into 80 minute chunks. The second is to check whether your CD player supports mp3 or other compressed formats. If it does, you should be able to burn the (not zipped) mp3 file onto a disk in data mode, and your player will play it.