Because Jazz Jackrabbit IS a MS-DOS game, it was made for computers of that generation, and newer processors cause it to give you that error. There are two ways to fix this.

1. Use Dosbox, which will emulate a x86 archetecture processor of the time, and I would recommend it
2. Use TP-patch, or whatever it's called. It allows older DOS programs to be run on Windows, and apparently works with JJ1, but I've never tried it myself.