This can be done ... but you need to have a criteria ...
You say Flat Rate, Item Rate and Free Shipping Option ... but that does not make a lot of sense ...
You need to define are you shipping on a Flat Rate of $5.00 for everything with an Option for Free Shipping ... or are you charging an Item Rate for everything with an Option for Free Shipping ...
Or are you doing something else?
Is the Free Option always available or just for some Products?
If the Free Option is available for just some Products, what is the criteria for determining which Products?
First decide how you want to do your regular shipping for your regular Products ...
Then, there can be a way to work out the Free Shipping whether that is for everything or just some things ...