We are not using a license server; the license needs to be installed locally on each of the 3 hosts.
Well then that's where you divide. Create a host license, and put it on each server. Of course since you have 3 licenses, you can create 1, and use it 3 times. Doesn't matter, as long as you don't go over your license count.
Also.. FYI license server is included with vCenter. So if you manage them with a foundation license, that's your license server.