Sorry, I think I misunderstood you the 1st time. Thought you had an album art problem.
If your compilation CD is showing as multiple albums its most likely a tagging error.
Look at the bottom left of MC, In the "Action Window" click "Tag". A new window named "Tag" should pop up. On the top left of this window there should be a small icon (to the left of the word "Tag") Click it and pick "Show Tags In Current View" from the list. The "Tag" window should reflect your current view.
You want to have the follow column in you view, Album Artist, Artist, Album. Just right click the column heading and pick from the list.
Check to make sure your fields are correctly tagged. If not select the incorrect song and change it in the tagging window to the bottom left. Or you can do a SLOW double click on the field itself in the main window.