Lineswitching brainteaser

Hey everyone! I was fiddling around with my rig, and had an idea (yes, an idea. BEWARE!). Can any exsisting line selector change the setup so that my multieffects unit is either in the effects loop, or goes directly into the amp?

After a bit of drawing, BAD drawing, I figured it should work as this, the upper half of the pic representing switch position1, and the lower is pos. 2.
thingy.JPG



If this doesn't exsist, could it be built?
 
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