If you need to actually delete the database and create it again, I think that can only be one through the control panel (cPanel/LPCP) -- a manual operation for you. If you just want to DROP all the tables and CREATE them and INSERT data again, the easiest way would probably be to build a PHP script that you fire off from cron. Take a look at the "install.php" code in an application such as SMF, which runs a PHP script to read an .sql file, substitute various configuration values, and feed the SQL commands one at a time to MySQL to DROP/CREATE/INSERT the tables. The runner up might be to write a bash script to run the "mysql" command with an .sql file that does all that stuff (I'm assuming that you're allowed to run "mysql" from the Linux command line).

Look at the TRUNCATE command in mysql. It deletes the table content and retains the structure of the table. Plus it resets any auto-increment fields.