Yes, unfortunately you would have to compromise the scenario to a certain extent to make it playable. What you could do is perhaps start the scenario with Morocco already in possession of the objectives. The human player could then be Spain who have to take back the two cities and the islands.
Use events creating units on the airbases to represent continuing reinforcements to the islands by air from Morocco (once Spain re-occupies the airports these troops will no longer be created - very realistic). In this way you can get around the fact that the computer can't use paradropping planes properly.
Finally, surround the Spanish mainland with "impassable terrain" units to prevent the computer from wasting its forces attacking the mainland.
Possible?