There is no direct way to do this that I know of.
You may be able to use File/Export/Movie (make sure the timeline is selected) to create a hi-def MP4. Just go to Settings and select the Quicktime file type and the MP4 video compressor. You can then burn this to a DVD (you'll only be able to fit about a 10 minute movie on a disc) using your DVD burning software -- though it won't have a menu.
See my response on another thread entitled:
AVCHD burning to standard DVD Elements 7
Have you had the time to read the thread of gossamer?
Heinz Schaub from Switzerland posted some great how to on the subject (See his post toward the end of the following link, starting about August 26, 2009).