Answering my own question:
- Visual Studio-->Open Nuget Console and run this command : Install-Package MSBuild.Extension.Pack
- Visual Studio-->Right Click-->Unload your Project (.csproj)
- Afer unloading you can now Right Click-->Edit .csproj
- Scroll down all the way and paste these lines before the ending "Project" tag -->http://pastebin.com/eEJXDrmi
- Save .csproj and right click -->reload project
You are good to go !!!! Now, when you build your project it will update your hosts files if that entry exists, and will create the entry if it doesn't exist. Pretty Cool stuff !