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Yes, this is possible, but I think you'll get a much better recording if you simply run the rca-outs from your mixer to a mini-in on a soundcard on your laptop. That's what I do. I used to run my mixes through my home stereo and record them to MD. Now I just run the RCAs straight to my laptop, and record through my SB Extigy...works/sounds great!
If you'd like to do it on your MD, record your mix to MD. Now that your mix is stored, the only way to transfer it to your PC is via analog. Get a mini-to-mini cable, run it from your MD headphone jack to the line-in of your soundcard. Play the MD and adjust the line-in level on your PC accordingly. Start recording It may take a while to get your line-in levels set correctly, you have to find the happy medium between the output volume of your MD and the line-in recording level of your laptop/PC. Make sure your mega-bass is turned off
Good luck!
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