Typically no. The wireless key is a fixed value.
Maybe DD-WRT does, since it's open source. The feature could possibly be added in.
The problem is that if you changed the key automatically, every computer in your network would have to be re-setup again to use the new key. On many systems this involves going into third party wireless software and modifying "user profiles". A lot of software isn't smart enough to prompt the user for a key again, it just fails to connect.
It would be a feature that would cause nothing but headache for anyone who isn't particularely computer saavy :)