I don't know the answer to this -- though the "meta" answer is that whatever commandline can be used to launch it from a dos box can be used in LBC.
One way to handle these kinds of crazy shortcuts is to drag the start menu shortcut to LBC, and you should get that prompt from LBC asking whether you want to "copy the shortcut properties" or "link to the shortcut", chose the "link to the shortcut" option, which basically tells LBC to launch the startmenu shortcut, and let the startmenu shortcut do the launching. The only caveat here is that if you move the startmenu shortcut for itunes, it will stop working.