You could copy the data from TITLE to ALBUM and treat each file like an EP.
Also, it is advisable to fill ALBUMARTIST - here the same applies: Copy the data from ARTIST to ALBUMARTIST.
The FAQs show you a way how to copy the contents of one field to another.
If this is enough and whether this makes the creation of folders unnecessary depends a lot on the features of your player.
But ... MP3tag can even create folder structures from tags, so you don't have to do it manually.