Illustrator and Bridge and show all subfolders

Hi Illustrator folks,

Suppose you had a whole bunch of .eps files scattered in many folders.

Using Bridge (with Show Items from Subfolders) I can select them all, even though they are in multiple sub-folders.

I wish to cycle them through Illustrator; and Save-As to a current .AI file ... saved back into the correct sub-folder.

How would you automate that? An action? How would it know the correct subfolder?

(BTW, in Bridge, you can automate batching pixel-based files to whatever you want like .PSD. But that won't work for vector graphics.)