CO and other heteronuclear diatomics are not too different from the homonuclear diatomics. In general like atomic orbitals mix with like atomic orbitals to form an equal number of molecular orbitals. In some cases it is difficult to determine some of the energetic orderings of the pi and sigma orbitals, but you can memorize them without too much trouble. There are only so many diatomics molecules you can make.
Polyatomic molecules are more difficult to treat. Ultimately it requires symmetry treatments - and you may have noticed that molecular orbitals for such molecules have names like a
1g and so forth. This is basically a way of saying that atomic orbitals can combine to form molecular orbitals only in certain ways. They have to line up with each other correctly for form stable combinations. E.g., if the line between a hydrogen atom and a carbon atom is the x-axis, an s-orbital on a hydrogen cannot interact/mix/form a molecular orbital with a p-orbital on the carbon oriented in the z direction (the net phase overlap of the two orbitals is zero). Really this kind of stuff is far easier to explain with pictures rather than words.
To determine actual MO energies you usually have to use computational approaches, as they are things that are easy to calculate using a pencil and paper, although often enough they can be determined in a qualitative way using some estimations and simple theoretical strategies. Huckel theory, for example, can be applied to aromatic systems to arrive at reasonably good approximations of the physical properties of conjugated organic molecules. If you are getting a masters in organic chemistry, it is something you should definitely familiarize yourself with. Other helpful tools like Walsh diagrams can help explain a lot of structural and reactivity phenomena in chemistry, such as why some molecules are bent and others are planar, and why some reactions occur.
To calculate more accurate energy values of molecular orbitals - and predict from them accurate molecular structures - you'd have to use
ab initio approaches (Hartree-Fock, Moller-Plesset, etc) using sophisticated computational software like Gaussian. However nowadays as mentioned earlier density functionals are used more commonly because they use less computational resources while still giving satisfactory agreement with experimental data.