Ok, where exactly will you keep your mp3 if not on the computer or an external drive, the Playlist will have to grab the music from somewhere. Perhaps you may want to rephrase the question, and I'm sure there are some that will offer assistance.

 

I do believe he intends on keeping the music on the phone's SD.

 

If that is the case than yes there is a program that you can use to do the job.

Even before I had my Droid I've been using a little program called "ITunes Export UI" and it is the fastest and best way to export all or individual ITunes playlists with or without the actually music files.

I would suggest choosing with the music files and it will export the Playlist and Files and place them in a folder together, than just take that folder and put it in your music folder on your Droid; the next time you open your Media player click Playlist and you will see your newly imported Playlist.

You can download it here

Enjoy!