I have an audio track (music) which gets to loud at one point. The problem would be fixed if I could adjust the audio levels the same way you adjust the velocity envelope up and down in certain areas by adding points the problem would be fixed can this be done?
Absolutely. Volume envelopes are track-level (as opposed to event-level), meaning all you need to do is right-click on the track header and select "Insert/Remove Envelope>>Volume". Now you've got an envelope to adjust volume of the audio on the track just as you would any other envelope (i.e. a velocity envelope)