Kids got iPod Touch's for Xmas, they want facetime, do they all require new apple id's and what is the ramification of that?

So I have iTunes figured out when we as a family, have one master account.  This allows me to regulate app downloads and music buys because they don;t know my Apple ID password.  We all synch to the same Itunes.
Well, this Xmas, they got iPod touches....  They want to use Facetime to talk with their pals.  Facetime tells me that I need new Apple ID's - because if I use my own, well, I can't because we have TWO iPod touches now....   Plus, I don't want kids to think I am trying to contact them when its really my kids.
So the question is this, if I make two new apple ID's (for each device) so they can do FaceTime, do we lose the ability to all synch to my itunes (where all their music downloads are, and paid apps, etc).  Do they have to give that all up just to use FaceTime?  My assumption is multiple apple ID's can't share the same library, but that is way messed up just to utilize one very cool feature. 
Ideally, I could make the new apple ID's, but when we synch they could still use my itunes. 
I can't be the only parent that has these kind of issues.....
Thoughts?

Figured it out. Thanks.

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