Of course you can't do that, that would be far too convinient and besides it would be non-proprietary which goes against everything apple stands for.
Seriously though apple don't want you to do this because it would allow you to switch easily to a different mp3 manager.
It really is shameful, the code to do this within ITunes is trivial (I wrote an MP3 manager years ago) and would solve all sorts of problems (such as library corruption, moving mp3s on your disk etc.) but I suspect the management team prevented the dev team from putting it in. Sad.