Hard work and personally not worth the effort, but yes, it can be done ... but not for all games, some will just not work.
Windows 3.1 ran on top of MS-DOS and was a 16-bit platform. It was easier to run these old games using 95/98/ME as they retained backward compatibility to 16bit software because of their Kernel.
XP, however, has a different Kernel and doesn't have any MS-DOS components in it at all ... it's a pure 32-bit beast. It includes a 16-bit emulator and a command prompt mode that
looks like MS-DOS.
Try Mr Google for game fan related websites.