WaveLab Elemetns is very restrictive on marker placements, and also doesn't have DDP export so I don't recommend it for this. You would need the full verison of WaveLab which I highly recommned anyway.
With WaveLab, you can keep the file as one long file of the entire show, then drop in the CD track markers wherever you want. Put a CD Track Start marker at the very beginning of the montage session, then use CD Track Splice Markers where each new song starts. Finally, put a CD Track End marker at the end of the proejct. Then you can get on with adding the CD-Text and ISRC codes etc.
After finding a good place to drop each track marker, I suggest running the "Quantize Marker To Nearest CD Frame" foudn in the CD Wizard pop up window so that whether you render WAV files of each track, or a DDP/CD-R master, the tracks are 100% identical in length and transition. If you don't quantize the markers before making your WAV files for digital distribution, and the DDP (or CD-R) master for CD production, you could see some tiny but possibly critical changes in where the tracks are divided because making a DDP/CD forces the track markers to quantize to a CD frame. So, you may as well do it ahead of time so you know where the markers will quantize to, and so that your WAV files of each track precisely match the CD master 100%.