Inline Definition Input Filter

I'd like to include the definition of a term in the body of a node.

Something like:
- [Term1] : [Term1's Definition]
- [Term2] : [Term2's Definition]
and so on..

It would be nice if the input filter would do this
- Term1 : [glossary:term1]
where [glossary:term1] is replaced with [Term1's Definition]

Thoughts?