If compatibility mode doesn't work (I don't think it will), then this may help you out. The 16-bit installer is a big setback. This site is actually a lot more thorough with issues than I thought it would be.
http://www.play-old-pc-games.com/2014/05/13/phantom-menace/
And now when I go home I have to revive this game... just one time...
http://www.play-old-pc-games.com/2014/05/13/phantom-menace/
And now when I go home I have to revive this game... just one time...