Shortcuts have a setting that can be changed to make any program run with elevated privileges.
If by context menu you mean the context menu of the shortcut, then there should be a run as option there already.
If by context menu you mean the context menu of a drive, folder or file that is associated with TCC, then I am unaware of a way to do this.
However, if you run Take Command with elevated privileges, then all processes launched by it should inherit the same privileges. Which is why I have a scheduled task that runs Take Command automatically with elevated privileges after I log on. I then leave it running and launch new tabs via the same Take Command window and have single instance option turned on. This works quite well on Vista and Server 2008, and is of course unnecessary on XP and 2003 unless logged in as a limited user.