Its not exactly the same but go to:
System Prefs/Energy Saver/Schedule (Tab).
Now you set your computer to restart at a given time.
Now go to:
System Prefs/Accounts/ Startup Items (tab)
Add itunes as an App that opens when your machine starts.
Itunes will now open everytime your machine starts.
If you're really tricky, you can select a preferred track to play instead of iTunes the App, once that tracks playing iTunes is now open anyway, so it will continue to play after the track is finsished.
...or just write a script