Re-read previous posts, but to let you remain lazy, here you go:

INCORRECT: lolg.exe -CD . -LOWMEM
INCORRECT: lolg.exe -CD -LOWMEM ..

CORRECT: lolg.exe -CD .. -LOWMEM

The two dots/periods are important!

That should solve your issue.

Listen to Baccata's talk, click on the lady to talk a moment, then click the vase to get an item.
Now exit the tavern, save the game, exit the game.
remove "-LOWMEM" from the line of text.
Start the game an set the GFXs to max, as previously mentioned, the load your game.
Voilá! Crash bypassed and a wonderful game can be completed.

Sure it's a bit of a hazzle, but at least it works.

Just wanna thank everyone in this post for solutions! I wasted a couple hours trying to figure this out until I found this thread.

Thanks!

i hope someone can help me, i tried everything in this topic but it still crash :( i want to play it so bad

How do you actually edit the lolg.exe? There's nowhere for me to edit anything. All text boxes are "greyed out", and can't be edited like white boxes. I can add commands to the normal launcher though. But not to the lolg.exe. And I can't run that one either. I can change the name of the exe by adding those things, but then the game won't even start. It seems to be broken. I remember being way past this part of the game before.

You don't edit lolg.exe. You edit dosboxLOL2_single.conf. Use notepad or something similar.
Make the following change: to After getting past the crash point and saving, make sure to revert the dosboxLOL2_single.conf to it's original state.
Also you'll need to go into the in game settings and up all the graphical options again.

Note: You may need to restore a proper version of lolg.exe if you tried editing it.