It won't work like that by default. The issue will be that you can't identify the newly inserted IDs from the insert multiple record to properly create the relational table reference.
I'm afraid you would probably have to hand code this solution.
Manage relational tables would work in a scenario where you had the multiple records listed with a group of checkboxes or multilselect list and were able to bind the values to the associated table IDs. Since in this case the ID's don't exist until after the insert, it really just won't work without editing it by hand and maybe storing an array as you insert of the ID's and then referencing that array in the manage relational table code in place of the form element it would normally work with.
The code concepts and code would be very similar, but it would take a little editing by hand to really pull off since it isn't directly supported in the interfaces.