I checked a few PCs and none have an entry called volume control but none the less if I left click on the speaker I see what most would call a volume control.
How ever it appears you want to play what you hear to some chat room. http://www.paltalk.com/support/SelectAudioDevice.html seems to note they do have support so for Paltalk use their support since this is not a Windows issue at all.
On my old Dell computer, using Windows 7, I had the sound card set up so I could play music through the sound card to music rooms. When it crashed I got a new Dell, but I cant remember how I set the sound card up. I have searched the net and YouTube, but most sites make reference to right clicking on the speaker icon on my tray and selecting an option, "volume control", that isn't shown on mine. When I right click on the icon only "open volume mixer", "playback devices", "recording devices", "sounds" and "volume control options" are all that are shown. None of these show the screen shown on the YouTube videos. Can anyone help me?