Outbound links and iFrame

Question

I want to replicate how digg.com treats their outbound links. They generate a short link like this: http://digg.com/d31F24Q which loads the outbound link's web page in an iFrame with a bar on top of the frame. I think there's a page template with the bar and iframe for all outbound links point to there. So how would I make all links point to that page without actually changing one by one individually? What about the random letters in the link? I want to explore more insights.

Answer 1

I ended up using this plugin for wordpress which is basically the digg bag: http://wordpress.org/extend/plugins/wp-bar/