Before I start, let me be clear: I have not actually done this. I know it's possible, but you will have to figure out the exact steps yourself. I do something very similar when I'm backing up my own DVDs, but I only strip the video, because I don't really care about menus and such (in fact, I prefer not to have them). This is assuming that the files you mention are part of a produced DVD (e.g a movie), and not some home videos - if you're working with home videos, just extract the tracks (transcode is good for this too) and re-create them with dvdauthor.
1) Use dvdauthor to create an XML file describing the tracks/menus etc from the disc (or the directory, if these files are on your drive)
2) Use a stream tool to requantize the largest video file - effectively this lowers the quality of the video, but it's usually quite acceptable. I use transcode to do this.
3) alter the XML file to refer to your requantized video stream instead of the original, and then use dvdauthor again to build a DVD compatible structure
4) use mkisofs and your burner to create and burn the image.