burning a Bootloader using only an arduino?

Is there any way to install a bootloader on a blank ATMega328 using an arduino without connecting to a computer. I want to make standalone device to program a bunch of blank chips with bootloader and possible a sketch.

Optiloader does that. Nick Gammon and adafruit both have improved versions that do it better.

Yes it is.

Yes - see Nick's take on doing that here:

DJChugz:
Is there any way to install a bootloader on a blank ATMega328 using an arduino without connecting to a computer. I want to make standalone device to program a bunch of blank chips with bootloader and possible a sketch.

So, if you ever want to just duplicate boot loader, fuses, eeprom, flash.... All at once, you can do it this way using a PC and Windows batch:
AVR duplicator script

Ray