In VLC is it possible to make it so that for files that are just music (mp3, FLAC specifically) are played and the "video" part of the screen is the song title/album/artist?
You can't. VLC's video window and general UI is centered around video, not audio, and doesn't provide those kinds of features.
The filename will appear in the title bar; so it's there if your files have descriptive names. The album art, if embedded in the file, will display in the video area.
If you are in the playlist view you can see the current track highlighted. Other than that VLC isn't really the right tool for the job.
On Linux consider something like rhythmbox or xmms. On Windows consider WinAmp/Media Player/iTunes. On Mac, iTunes of course. These applications are designed with audio in mind.