I don't think you can bake raytraced shadows.. although you could perhaps raytrace a shadow map from the lights point of view and then use a camera projection to map the result to the surface.
Look up bakesets in teh Maya docs as they can let you add several objects to the same bake process and have the resutls applied seperately
I would still combine any small objects like bolts and girders etc.. large pieces like road don;t ahve to be combined.
check out learningmaya.com for possible tutorials