[2K3] MUSIC AND LOOPING

I am curious, is it possible to make music loop if the song itself loops? For instance, setting a loop point in the song, and then adding that to the game?

Hmm...does this work for MP3 files? I'm curious since I'm wondering if it'd save on filesize (my game currently is ~500 MB due to all of the music it has, and dungeon themes generally won't be looping anyways, so it's more or less for battle themes).