Not in Vegas, and not easily.
Suggest you test a file conversion in the freeware Windows Media Encoder. Carefully match the ouput profile to your source file’s characteristics.
Open the session properties panel, and click on the plugins tab, audio radio button, register button. Search for a direct-x plugin such as Wave Hammer or other dynamics control such as a compressor, and move it over to the current plugins pane. Highlight it and configure it – this will be hit and miss without preview, you might get your settings in vegas before you do this.
Encode it and see what you’ve got… IMO this is sort of a back-asswards way to get this done, but I don’t know of any other utilities.
You might compare the video results from WME to the re-encode from Vegas, this might not produce much better results. Depending on the qualities of the original WMVs, re-encodes in Vegas might not be so bad, you should test it.