Hm...i'm not very familiar with cakewalk because I'm using Adobe Audition. However, I will give this a try.
If you see something called a "buss", then put all the necessary plug-in effects (compression, EQ, reverb, etc..) in there. Then have the drum tracks output to that buss. Basically, all the tracks sharing that buss will also share the exact effects setting. If you need some minor changes on those tracks that output to the buss, (I hope) on each track there's a simple EQ (Hi, Mid, and Lo) and volume adjustment. Other than that, you need to give that track its own separate FX.
Gosh, I hope that's understandable.