Can I convert a single track audio book into multiple chapters?

This is more for my 6 year old son, we have on CD Thomas the Tank Engine story CDs, which imported as individual songs/chapters, so they can be shuffled. I recently purchased another Thomas story CD from itunes assuming it would download in the same way, but it was an audiobook. It does not show different chapters, they are all lumped together in on single file. I have gone through and made a note of the timings where the 12 stories start and stop, so is there any way that I can separate them into 12 separate files under one album?