I would strongly advise using a separate player, which is also capable of sorting your music. iTunes does this well for me, but I gather WinAmp is another good application as are others. iTunes will sort by Song title, artist, album, bit rate, file size etc etc, and you can make any sort of playlists you like as well.
The Limewire player is not very versatile, and using it can cause big problems if you inadvertantly select delete in Limewires Library which will delete files from your hard drive with out going to the recycle bin/trash.
The Limewire player can be dissabled in Limewire preferences > player.
Your existing library can be added to your shared files, if you wish, by going to Limewire preferences > sharing> shared folders where you can add folders of your choice. These files will be visible in the Limewire Library, and if you chose, can be played with the Limewire player. . In the Limewire Library, however you cannot do much sorting as you have discovered.
I hope this helps, let us know if you want more help.
iTunes is free for Windows and Mac at
http://www.apple.com/itunes/