Say a have the function foo:

foo[x_] := x + 2

Like the Evalution -> Evaluate in place, I would like to have a keyboard shortcut that replaces the current selection with the result of applying foo to the selection.

For example if I have selected 1+3 in a cell with the following contents:

2*1+3-5

By pressing a keyboard combination, I want Mathematica to replace it with the result of foo[1+3] (6):

2*6-5