Vista - Creating Album for WMP 11?

My music is crazy disorganized with multiple albums in one album. The
problem is there is not another album for me to drag n' drop the audio files
to organize them. So my question is, is there a way to make a new album? If
not is there a way around this, lets say I make a new folder put some audio
in it and add to WMP. Any theories?

I also hate that MS removed the ability to "drag-n-drop" to change albums names, genres, etc.

But to answer your question, when in the Library, you can right-click the files/s your want to change, and use the "Advanced Tag Editor"

Or you can use my MP3 Media Properties Explorer that I created specifically to overcome the tag editing shortcomings of WMP, WinAmp, etc.