If you will remember some time ago there was a thread where an extension idea was discussed.
http://www.clickteam.com/epicenter/ubbthreads.php?ubb=showflat&Number=189981
I figured out an extremely simple way to do this where the only needed code would be in the condition.
I finished a small beta version with a condition for the loop, and expression to get the loop index, and an example file explaining how to use it.
http://www.LB-Stuff.com/MMF2/Extensions/InlineLoop.zip
Later to come are bug fixes (if any) and the ability to set the loop index/stop the loop.
Have fun testing!