To play Loopy Landscapes without needing the CD in the drive, you must:
1. Patch the game using the official Infogrames patch to version 1.20.013.
2. Copy all files from the "Data" folder on the CD to the "Data" folder where you installed the game on your hard drive. You can copy the files with Windows Explorer if you want. However, the important part is do not overwrite any files that already exist on your hard drive. That is, when Explorer prompts you before it replaces an existing file, always answer "No." Otherwise, you will lose your scenario progress.
3. Start the system Registry Editor (REGEDIT.EXE).
4. In the left-hand pane, navigate to and select the following key:
HKEY_LOCAL_MACHINE\Software\Fish Technology Group\RollerCoaster Tycoon Setup
5. In the right-hand pane, you should see a string value named "SetupPath", which currently points to the root directory of your CDROM drive. Edit this string to contain the path to the folder where the game is installed. If you want, you can copy it from the "Path" string value under the same key. Do not alter any other values under this registry key.
6. Close the registry editor.
That's it, you should now be able to launch Loopy Landscapes, and it should run normally without requiring the CD in the drive.
As far as I know, this technique does not work with original RCT, or RCT with the Added Attractions/Corkscrew Follies add-on pack, or with any version of Loopy Landscapes prior to 1.20.013.