The way you're thinking about doing it would take weeks because you would have to compress and uncompress all the folders you plan on uploading.
The easier way of doing things is going through these steps, click FILE in ITUNES, then find and click BACKUP TO DISC. Follow the steps to backup your library and make sure you label each disc, ONE, TWO, THREE so on and so fourth.
When this process finishes, insert the first disc into your Mac, iTunes should open and ask you if "YOU WOULD LIKE TO RESTORE FROM THIS BACKUP DISC?" Click RESTORE and insert the next disc when prompted. When the restore is complete, check to make sure you have everything and you're all set.
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