Yes, you can set it up as you want. Opportunity/Donation creation depends on the settings you have under C&P Settings >> Opportunity. In order to create a single opportunity for multiple levels you will need to select Opportunity Products under C&P Settings >> Opportunity >> Opportunity Product.
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When Products are used all items in the basket will become products under one opportunity.
Please check and let us know if we can be of any further assistance.
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