Well, a quick sanity check says it works fine in DOSBox, and as someone who got to use 3.11 as a child, you get use to exiting Windows if you have to. But I know it also works in 95 and 98, I've tested those in a VM, so the idea of a 3.11 version is more of a laugh. I mean, there's a 68k Mac version, why not a 16-bit Windows?
But if you want a more serious target, what about MorphOS?