The following code works, but I'm sure there is a more compact way to achieve the same result, particularly the string replacement:
$('#nav-main .nav-sub').each(function() {
var name = $(this).attr('id');
$(this).children('li').children('a').each(function() {
var text = $(this).text().toLowerCase();
var spaces = / /g;
var sub = /sub-/;
var id = name + '-' + text.replace(spaces, '-');
var id = id.replace(sub, '');
$(this).attr('id', id);
});
});