Transcoder on the fly

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Hi

I see many post about transcoders. Here is my scenario and would like to know how I can set it up if possible.

I want to take a live radio stream in AAC format and transcode it on the fly to MP3. I have seen that Liquid Soap can do transcoding but do not know how to implement it.

I need to do this for 3 separate streams.

Can anyone advise?
Thanks
How can I implement this Liquid Soap script into Centova Cast?
http://liquidsoap.fm/doc-svn/scripts/transcoding.html
Afraid I can't help with custom Liquidsoap scripting (it's essentially an entire programming language that you have to learn if you want to use it effectively), but I can at least let you know about the Centova Cast part of it. 

If you check out etc/liquidsoap/centovacast.liq (under your stream's directory) you'll find a set of centovacast.callback_xxx values.  You can override those functions (put your implementations in etc/liquidsoap/custom.liq) to alter the input sources and add your own.

For anyone familiar with Liquidsoap scripting, that should be all they need to know to tie custom code into Liquidsoap without losing all of Centova Cast's integration features.