This is possible. You can do this by using a gift certificate the website offers. What this means is that you will be able to purchases the items on KI's website (just how you would your crowns, memberships etc) but instead, you'll be given the option to customize your gift certificate and. The code will be sent to your email address where you can give it to your friend or whoever you're purchasing the items for. They redeem it and there you go! They'll get all that you had bought for them with that one code. Pretty convenient.
Now. How do you do this? Quite simple actually.
Log into your account on Wizard101.com
Under your account name, you should see an option called "Gift Certificates"
Click It.
You'll then be directed to a familiar looking screen which then asks you what it is you'd like to purchase.
After deciding what you want, click it then proceed to checkout.
Log in to your Master Account.
At the final step, review, this is where you'll be able to customize that gift for your friend. You even have the To and From Option (like a letter) which adds to the level of personalization.