Hi Harris,
I don’t think that something like ‘auto-frame selected’ exists in Blender.
It would probably be relatively easy to write an Addon that can do that (using something like a Modal Operator), but I am not sure if that would be a nice feature (you wouldn’t be able to zoom in onto something not selected, for instance).
My pen&tablet (Xencelabs, not cheap!) came with a 40 ‘quick keys’ unit…I think you can buy those for some other P&Ts as well. I find it especially handy for Sculpting (switching Brushes and so).
