PowerPoint audio problem?

The version of PowerPoint I am using is 2007.

I am currently doing an IT project, which requires me to make multiple presentations with sound.
When transferring my work between home and school, the audio in my presentations breaks.
The audio is currently linked, as opposed to embedded, and I'm guessing that this is the problem, and that I need to embed it to prevent it from breaking.
This would cause another problem though. I have quite a lot of audio, and I have a limit to the size my complete project can be. The audio is currently in MP3 format, and PowerPoint will only embed WAV sounds. Converting the MP3 files would make them considerably bigger, which would be a problem.

When I transfer the project between home and school, it's always in a folder which contains folders, and I don't move any files individually.
Let's say I have a folder called 'Presentation'.
Within the Presentation folder are all of my PowerPoints, along with another folder called 'Sound'. This folder structure will never change, and these folders will never be renamed.
Is there any way I can add the audio to PowerPoint, without having to embed it, that enables me to transfer it between home and school without it breaking?

(You don't have to read the part below, it's just a sort of example to try and explain it more).
Sort of like in dreamweaver, if I had a folder called 'Images' in the Presentation folder, and I was making a website, and wanted to link images, dreamweaver would be able to link it without a problem, and I would be able to move the whole thing about without it breaking, as long as I didn't rename the folders or files, and I kept the folder structure the same.
Is there any way to do something like this with PowerPoint and audio?


Sorry that it's so long, but I really need to get this sorted out! I would really, really appreciate any help or advice!
Thank you!