192kbs is better than 128kbs. AAC results in a much smaller file size than MP3
Thus a 192kbs MP3 will be a larger file size that the same song at 192kbs AAC, the quality of both files will be the same.
192kbps directly refers to the number of bits available, and file size will be identical. AAC provides more transparency and better quality at equal bitrates, so when people say AAC is smaller they mean you can gain the same quality from 128 as a 192 mp3. so AAC 192 will sound better than MP3 192, but at the same size. Or 128 AAC should sound roughly the same as 192 MP3, but at a smaller size.
also "the same" is subjective, as they use quite different compression mentalities. I personally will always prefer the sound of AAC over MP3 even at lower bitrates because it doesn't do aggressive high frequency rolloff like MP3 does, which makes quite the difference for the type of music I listen to (electronic).
although to be honest, both will sound bad. I would recommend 256 AAC, or 320 MP3, and nothing lower, as that's about where both formats achieve transparency in most listening environments. Personally I strive for lossless, just for those moments I am in a quiet room with my nice gear it really shines. Additionally, if you're using bluetooth, it will re-compress the stream to AAC or SBC (or APTx if you're not in the apple walled garden), and starting off with AAC will sound better recompressed to AAC (contrary to popular belief if still does re-compress the stream, even for AirPods, but staying with the same format has some merits), with SBC it probably won't make much of a difference.