I don't believe that iTunes modifies the original sound files in any way during "normalizing".
Rather, iTunes examines the volume level of each file, and then automatically adjusts its own volume during playback.
The only way to truly "normalize" your files so that the volume levels would be roughly equal amongst ALL your files would be to use a standalone audio app (I can do this with Cubase) to:
a. open/decompress the file
b. run a normalization process on it, and
c. recompress it.
The problem with the above is that -- if you are using files such as mp3 which are "lossy" to begin with -- you will lose even more audio quality through the decompression/recompression process.
So…
My advice:
Leave the files alone.
Adjust the volume level manually during playback (from a non-iTunes player).
Less work, less trouble.