Mod_rewrite - Changing Paths In The Php File?

I am using mod_rewrite to create "pretty" urls but some of my files contain paths such as this:

<img src="images/blah.jpg"> Meaning if the user visits a page where the file does not physically exist then it won't work.

I want to know if it is possible to pick this up and rewrite the path. I.e.:

change: <img src="images/blah.jpg">
to: <img src="../images/blah.jpg">

or
<img src="../../images/blah.jpg">

As I don't want to create physical files with relative urls for every trunk of my url. For example:

www.mydomain.com/directory/directory/directory/

Would need 3 different files in three different directories to display properly.