As long as you have the HD space - your're safe to work in CD size chunks...timewise...
When you get done...hit the stop button
Then File > Save - give it a name...
+at this point you can play with the editing, fade in, fade out...etc...remember to save changes...+
When your done editing...
File > Export as WAV
You will be prompted for a folder...
You are done in Audacity...next...
To chop it up into tracks you use this program...
http://www.milosoftware.com/cdwave/