Hi there
does the "Virtual Dos" disk boot inside the VM. If you can bring a DOS disk up you could probably run the Windows 95 setup from inside the DOS system as it doesn't actually need a Windows system to start installing.
Note though if you do this you'll need the DOS CD
drivers to be able to read the CD. (Gosh this is going back a long way).
If you get it booted (W95) show an image.
Cheers
jimbo