My knowledge here may be outdated, as I havn't really kept up-to-date with these topics since Windows XP, but I'll add it anyway, perhaps it is still of use with today's Windows versions...
In the standard 32bit Windows system there used to be a default upper limit of 2 GB memory per process, even though in theory 32bits suffice to address 4 GB memory. As RAM got cheaper, people realised, that this was a bit too restricting, so starting with Windows 2000, Microsoft introduced an operating system flag that allows to increase this upper limit to the full 4 GB for special processes. Can't remember the details, but I think you had to set a certain registry key, giving the name of your executable (C3CConquests.exe in this case).
So assuming that this is still the case for the "32bit backward compatibility mode" of today's 64bit Windows systems, you could set this flag and double the available RAM for the C3C process. That should definitely help...
But of course it could be, that today's 32bit backward compat mode already uses the 4 GB limit by default... Then we wouldn't get an improvement. You can check this, if you start a really huge game and then in the TaskManager watch the "VM Size" parameter of your C3CConquests.exe process. If it never goes beyond 2 GB, then this limit is probably still in place on your machine.