I have made a script that generates automatic "shakes" for any video event on the timeline.
It's called
Vegas Quake. I hope I don't get sued over the name by Sony, the city of Las Vegas or id Software :-) The name isn't important, so I'll call it whatever you like, ok?
It's available at
http://www.rmtools.se, free for personal use. Please consider making a donation if you use it commercially, I need webhosting for my tools.
An example of it's usage is available at
www.vegasusers.com/vidshare