the only way i know of doing it, is what i learned by reading chickenmans detailed and easy to follow tutorials situated here
it may seem a little more complicated than just burning straight to vcd with nero, but as far as i know nero doesn't allow you to split files. besides, the quality is far better when you follow chickenmans guide. i came to this site with the same question and now here i am answering yours, so trust me, it works!
hope that helps