Is there a way to assign global hot keys to go to the next/previous album in iTunes? What is the easiest way to add ability to go to next and previous album (not track) using media keys with modifier key (like ⌥+F7/F8 or any of ⇧, ctrl, ⌥, ⌘ or fn)?

Is it possible without using additional applications?
From http://www.usingmac.com/2007/11/21/mac-os-x-leopard-200-productivity-booster-hotkeys

153 Option-Right Arrow  Select next album
154 Option-Left Arrow   Select previous album