SUBSTITUE Multiple Values

I know you can create one formula to find whether or not a field CONTAINS any one of multiple values.

Code:

CONTAINS( "AK:AZ:CA:HA:NV:NM:OR:UT:WA", State)

Returns TRUE if State is contains any of those values.

Is there a way to create a similar formula for SUBSTITUTE like...SUBSTITUTE (State, "California:Cal:Californai:C", "CA")?

Instead of having to rewrite the formula for each value then having multiple formulas that use precious characters.

-Thanks

ecastillo
jvolkov, did you ever find away to accomplish this? I'm in need of a solution for this as well.

Thanks.

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