A : Theoretically no, since Windows Movie Maker WMM can't recognize iTunes music video movie. But there is way to make it via 3rd party application.
As we all know that WMM supports editing .mp3 .wma .wav music and .wmv .avi .mpg video movie, while iTunes offers music in AAC (DRM-protected .m4p, non-DRM .m4a) and video movie in .mov or DRM-protected .m4v. Then there're jobs (removing DRM and converting formats) need to be done before editing iTunes music video movie in WMM.
1. Remove DRM and convert formats of iTunes music video movie
Step 1: Free download this Removal software install and run it as the most application software.
Step 2: Then go to the main window to "Add" or drag-drop source files. The "Settings" board offers various output setting function as output format, bit rate, frame rate, etc, you can customize the target files' profile at will.
Step 3: After finishing the output setting, back to the main window, click "Start" to begin the conversion process. Duration depends on source files size.
2. Edit iTunes downloaded music video movie TV episode in Windows Movie Maker
Run Windows Movie Maker, in the "Movie Task" section, click "Add Video" to browse your computer and load the converted files, and then start to make your own movie as the following picture shows: