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How to replace nth column in a file

Last Modified: 2013-05-17
I have several files, one of them is as follows:

A|2|Fghg|2|12/31/2013 01:00 PM\r\n
B|3|Ghkf|2|11/23/2012 02:00 PM\r\n

I would like to replace the nth column with a different value. For the example above, n=3.
There are no end-of-file terminators and there are DOS record delimiters.

Any help appreciated.
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