program called VirtualDub extracts audio from video files into .wav format
if .mpg you mean movies/video, Fruity Loops doesn't support that, and Cakewalk (Sonar?) too I think... since they both only deal with audio sequencing.
check out total recorder... it will allow you to record anyhting you hear from your desktop... very simple to use and it saves it into wav format. skip the complicated stuff man.
Are you talking about songs that were in a movie that you want to have to listen to on your cpu or put them on a cd? If so then just get the name of the movie. Go to cdnow.com and put in the name of the movie and go to the soundtrack. You can listen to the songs right there on cdnow and decide which ones you want to download. Then just donlaod them off of winmx. downlaod it at winmx.com . Later bro.