It was my mistake as there is actually such a recording on the website mentioned.
A reworking in Serbian of Volare is track 9 - of the Ginko album featured here at Sladjan Jovanovic's website. It's titled Between The Sky And The Bottom. This version has the same arrangement as the Italian version (track 14).
Here you can listen to all tracks from the Ginko album and also find an English translation of the lyrics.
Thanks to Sladjan Jovanovic, your help is much appreciated!