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Check this out: http://www.collegebroadcasters.org/podcast.shtml
Just do a search on Google for podcast music legalities. Basically you need the rights to use anything. From what I found about Fair Use, you can use anything as long as the podcast is a critique or focuses around the music used.
Two Misconceptions About Fair Use.
(a) Acknowledgement Is Not Enough. Some authors have the erroneous belief that an acknowledgement will immunize a copyright infringement as “fair use. This is a myth. Including an acknowledgement may be considered in analyzing the four statutory factors, but it is by no means is a clear defense to a claim of infringement.
(b) Disclaimers Are Not Enough Either. Another point of confusion is whether an upfront disclaimer that denies any association between the podcast and the copyrighted material can protect the podcaster from liability. For example, assume your podcast is a parody of “The OC television show. You include a disclaimer at the beginning of your podcast in which you state: “This podcast is not associated with or endorsed by Fox Television. This sort of disclaimer will not, by itself, protect you from a claim of copyright infringement, or act as a clear defense to such a claim. It will, however, be considered among the factors the court considers, and in a very close case, a court may look positively on a clear statement of disassociation.