well once you see complete list of nations there is no Italy yet, but you can have Sicily or Sardina, or even the Papal States. Since i mentioned it, here is the list with a description of their location.
England: Cuba (Scots are in Haiti, Jamacia is Ireland)
Spain: western Florida
Portugal: eastern Florida
France: pink blob north of Florida
Papal States: new orleans area
Ottomon Empire: Red blob in Mexico
Greece: Yucatan
Egypt: Venezuela
Sicily: Dark green in Mississippi (the state)
Sardina: blob just west of Sicily
Netherlands: where New York is
Switzerland: small blob north of Sicily
Prussia: Michegan
Bavaria: Chicago and surronding areas
Minor German states: New England and Halifax
Denmark: small blob north of Prussia
Sweden: the yellow one in the north, colors to be changed and added with Norway, since historically Sweden ruled both at this point.
Russia: big brown thing in Canada
Austria-Hungary: green blob in middle of America
Persia: directly west of Austria
India: western Mexico
China: California
Korea: north of China
Japan: Vancouver island thing and Hawaii (dont ask how they got there, they just did)
Aztecs: Carthage
Mayans: Palestine
Incans: east Africa coast