[mso] Making up a character

I can overstrike a character with another character to create a "new" 
character.  I haven't seen a way to preserve the new character so that 
later I can press a sequence of a keys (such as CTRL+O+P, for example), 
and the capital O (oh) with the lowercase "p" inside it.

Can it be done simply, or do I need to do it one-by-one?

Thanks.

Robert
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