Step 1: Tools and Supplies:
-Drill w/ bits
-Phillips Screwdriver
-Electrical tape
1x Project Box
1x DPDT switch
3x 1/4 Mono jacks
and wire.

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http://www.ebay.co.uk/itm/Miniature-Toggle-Switch-On-On-1A-250V-2-Circuits-/170490589429?pt=UK_BOI_Electrical_Components_Supplies_ET&hash=item27b207f0f5
Thanks :)
and no it wouldnt make a difference
the point is to get two different sounds and two guitars going through the same amp wouldnt sound too different, just a little depending on the pot setup of the guitars
if not, is there anything you"d have to change in the wiring to make it for two guitars?
so Guitar-> A/B/Y box -> path1 -> Y-cable -> Amp
->path 2
say you make a path 1 clean and path 2 disto, its the same as having a 2 channel amp.