There is a commercial program called DVD Audio Ripper which is designed for this particular task. There seems to be a trial available, but I think the built-in restrictions would preclude using the trial for the whole dvd.
Doing this with free tools is possible, but a little involved. You can rip just the audio stream from the dvd using DVDDecrypter in IFO mode. You must click the Stream Processing tab, put a check mark in the Enable Stream Processing, then unclick every video and audio stream that you [B]don’t[/B] want. When you’ve done that, right click on the stream you [B]do [/B]want, and hit Set Selected-Demux.
Now specify a folder on the hard drive where you want the file, then start the decryption process. You will get the audio file, a text file and an IFO file in the folder as output. You can ignore the text and IFO file.
The audio is probably in ac3 format, though it is possible it could be pcm or mp2. To get to wav files, you can use BeSweet + BeLight. You could also convert to mp3 if you prefer.
To select certain sections of the wav files, you need an editing program like Audacity. And you can burn the wav files to cd audio using Burrrn.
All of the tools I’ve mentioned are free to download and use except the first one, which is a commercial product. It is also probably the most convenient.