Explain the question better then. So according to what I read and got out of it at this moment, you wanted to import the two CDs (which I'm sure you figured out already) and then make it into one CD by making it on ONE disc.
Well haven't you made mixes before? You create a playlist on the left side. There is a (+) symbol near the bottom that says ADD PLAYLIST. You will get an option to name it. You can choose the album title. You then highlight all the songs from the two CDS and drag it to that playlist. Then you can burn it from there.
You made this thread seem like, "How do I import two CDs into iTunes at the same time?"
And I don't think you can do that anyways. Ain't the CDs like over 40 minutes? A CD can only hold up to 80 minutes worth of music.