You cannot record to a MOD extension with all of the editable properties intact. However, you can output to WAV fairly easily, albeit with quality loss by going to your Sound/Volume control panel, going to properties, going to recording, and selecting "What U Hear"/WAV/MP3s. There should be a property similar to this, and you can then simply use a recording program. It is low-quality, but it is a cheap and easy solution.

~ Traft