One quick workaround (although it has to be applied each time!) is to click on the album field to sort by album. That works, but it's not the default condition as it was in iTunes 8 and before.
I just noticed that shuffle by album, as a direct result, is also broken (when shuffling by multi-disc albums, that is). There is no workaround for this - it messes with the correct order no matter what you do.