// MediaPlayer m; /*assume, somewhere in the global scope...*/

public void playBeep() {
    try {
        if (m.isPlaying()) {
            m.stop();
            m.release();
            m = new MediaPlayer();
        }

        AssetFileDescriptor descriptor = getAssets().openFd("beepbeep.mp3");
        m.setDataSource(descriptor.getFileDescriptor(), descriptor.getStartOffset(), descriptor.getLength());
        descriptor.close();

        m.prepare();
        m.setVolume(1f, 1f);
        m.setLooping(true);
        m.start();
    } catch (Exception e) {
        e.printStackTrace();
    }
}