How to get smells out of clothes without washing them?

This past summer, I was given a super rad denim jacket. It fits reasonably well, but the really great part is that it has been hand-painted with fun designs and even a portrait of Bob Dylan on the back. The one problem: it smells weird. This thing has been floating around from person to person in my area for probably 15-20 years, if not more. It has this unpleasant odor that I can't seem to get out of it; it's kind of a wet, moldish smell (or at least that's the best I can describe it as. I gave up on it over the summer, and now I've brought it back with me to school and I'm intent on making it smell better. I've tried spraying the hell out of it with some air freshener stuff I got to neutralize the icky smell my residence hall sometimes has, and that doesn't seem to be working (makes sense, as it wasn't made for fabrics). If it were anything else, I would just throw it in the wash with some vinegar, but I'm worried about the paint coming off. Short of getting it dry-cleaned, are there any methods of cleaning that I can try without compromising the artwork? Would it be safe to put it through the wash?