Quickly align edge loop? I am trying clean up topology, and I have found an issue which I will have to do a TON work for this mesh. 

I have a line of vertices I would like to quickly make straight. You can do this in the UV/Image editor by pressing W > Align X or Y.

Is there any possible way to achieve this is the 3D View?
For the edge loop in your picture, with the Pivot Point  set to Median Point, Individual Origins, or Bounding Box Center, you can press SY 0.

That will scale all the selected vertices along the Y axis to 0, meaning all together, because the scaling is constrained to the Y axis, you will get a straight line perpendicular to the Y axis.

SX 0 for the X axis
SY 0 for the Y axis
SZ 0 for the Z axis