I'm not sure HOW to do it but I know it's possible, as anyone who has downloaded the Mount&Musket mod will tell you.
It would be you download the update or whatever, and then a box comes up "Welcome to cRPG version etc etc"
You'd choose the install directory etc
It would make it a LOT simplier for new people who want to play the mod. I know I've been discouraged from playing a mod when the download hasn't worked for 5 times
Alternatively, could we have an installation guide aswell please?