How long did you leave the install when it hung? Some people have had the first CD check take awhile, though subsequent checks should be faster.
Are you shutting down all non-essential programs (especially anti-virus) before trying to install the game?
You can copy 3 files off the 2 CDs (do not need the autorun.ini file of the first one) to the same folder on your hard drive, and try installing from there.