Few days ago I struggled with that problem for a few hours (I found nothing helpful at the other forums or sites) but finally I resolved it
The problem appears because you have too much memory, and the game doesn't recognize it properly (I have 2GB of memory too). Making NFS2SE working is rather long process, are you sure you want to do this?
First install the game. You wrote you wanted to use glide wrapper. I used dgvoodoo 1.50beta and it worked fine so you can try it too - unzip all dgvoodoo files into NFS2SE folder. You can run dgvoodoosetup.exe to set your settings for dgvoodoo (resolution, bit depth etc.).
Normally I had the same error message as you did, but after long trial and error process I managed to run the game using Microsoft Application Compatibility Tool 4.1 (older versions should work too). I used this program for the first time so maybe there is a simpler way to do it, nevermind.
So download and install Application Compatibility Tool 4.1.
Run Compatibility Administrator from Start Menu.
Go to Custom Database / New Database.
Click 'Fix' button.
Type the name of the game, vendor, and browse to NFS2SEA.EXE file. If it is not in NFS2SE folder on your hard drive yet, then copy it manually from CD.
Click Next, None, Next.
Toggle following positions on:
Click Next, Finish.
Save your database preferably in game directory.
Now click on NFS2SEA.EXE file in the right panel of Compatibility Administrator. Click Run button. The game should start.
If you want to play it next time you need to run Compatibility Administrator again, load your database, click on NFS2SEA.EXE file and Run button.
I hope it will work for you the same way it works for me now Good luck!