Remember that playlists are heirarchal and can exist in multiple places within the tree;

Set up a playlist "Random album" and flag it to always randomise. Copy all your album playlists into it.

Another way that you can achieve something similar to your aim would be to just simply flag your Artists playlist to always randomise. Then hitting DownDownDown without any shuffle will result in a random artist being selected, with all their albums being played in whichever order they appear in that playlist. If you're like me, artists for whom you have multiple albums will have their playlists in chronological order. This means that an unshuffled DDD results in playing all the albums of a random artist in chronological order, which is kinda cool. Admittedly that's not quite what you asked for, but many artists on your player will only have a single album representation so it's a workable approximation, especially as you can easily use the tweak order buttons to modify scourge particular albums/artists on the fly.
You do lose the ability to use DDD to play all albums in 'alphabetical by artist' order. If you really care about such an arbitrary order then you can easily recreate it as a JEmplode Soup. (Tag to ignore as child!)