While there may be an exception somewhere, if I understand your question correctly, the answer is no. Items you make do not continue to level up as you do once they are made.
If I've misunderstood you, then the answer is opposite: yes, as you increase in levels, you will create better weapons and armor. But still, once the item is created, the only way to make it better is with the standard weapon and armor enhancements. So you'll end up crafting new gear for yourself every few levels if you get unlucky with the random drops.