Try installing JCE editor, and using the chain link icon to add a link to your text or image formatted as you wish
To get the link to the item to copy into it, create a category view, go to the item, and click into the item view.
You can copy and past the url, and if you pay attention to the various urls you will see that you can probably just change the item id in the url if they are all in the same category for other items.