If you're comfortable with the macro-use in How can I center text/math inside a list environment?, then you could use
\def\NLine#1{\par\hspace*{-\leftmargin}\parbox{\textwidth}{\begin{equation}#1\end{equation}}}
This inserts the argument inside a numbered math display and allows referencing in the usual way.

\documentclass{article}
\usepackage{amsmath,bm}% http://ctan.org/pkg/{amsmath,bm}
\def\MLine#1{\par\hspace*{-\leftmargin}\parbox{\textwidth}{\[#1\]}}
\def\NLine#1{\par\hspace*{-\leftmargin}\parbox{\textwidth}{\begin{equation}#1\end{equation}}}
\begin{document}
\noindent\rule{\textwidth}{2pt}
\begin{itemize}
\item The quadratic formula
\MLine{x=\dfrac{-b\pm\sqrt{b^2-4ac}}{2a}}
\item The freshman's dream
\MLine{(a+b)^n=a^n+b^n}
\item The freshman's dream
\NLine{(a+b)^n=a^n+b^n\label{xyz}}
\end{itemize}
See~\eqref{xyz}.
\[(a+b)^n=a^n+b^n\]
\end{document}
Perhaps a more intuitive definition might be
\makeatletter
\def\MLine{\par\hspace*{-\leftmargin}\@ifstar\MLineNoNum\MLineNum}
\def\MLineNoNum#1{\parbox{\textwidth}{\[#1\]}}
\def\MLineNum#1{\parbox{\textwidth}{\begin{equation}#1\end{equation}}}
\makeatother
that allows you to use \MLine for numbered equations and \MLine* for unnumbered ones (mirroring other numbered/unnumbered environments/macros).