No. A USB connector can only connect to one device at a time; connecting to multiple devices requires significantly non-trivial electronics. If you open up a USB hub you'll see it contains an IC that performs this functionality. Although (for USB 1.x) the _signal lines_ are more or less just 'repeated' between all devices, a hub must be intelligent so that the host can tell it to 'power up' one device at a time for enumeration. Afterwards, the host polls the hub so that it can detect device removal, overcurrent conditions, etc.
Why do you think that connecting it inside of your laptop is going to help this problem in any manner?
You have a few options:
1) Get the smallest hub you can find -- some are very tiny -- and install that as well inside the laptop. Be sure to get one that allows external power to be used, as otherwise the 'new' external connection will (typically) only tell the OS that 100mA of power is available.2) Connect the D+/D-, and Gnd lines to your dongle and use a SPDT switch to alternatively powerup the dongle's +5V line or the external connector's +5V line. This violates the USB spec and no one would guarantee you that it will work, but there's a decent change that it would.
---Joel Kolstad