I, personally, don't think this would be a good idea. I have tried controlling two trains (double-headed Live Steamers) with two separate R/C transmitters (one set up for my left hand and one set up for my right hand) and was unable to get my single brain to determine with any repeatability which transmitter was controlling which Locomotive. I can't believe adding the complexity of a switch to one transmitter would make it any easier to remember which way the switch is thrown controls which locomotive... even when not in the panic mode of needing to stop one of the trains from "T-bone"ing the other at the crossover!
I guess, with some practice, I could get better at it, but I found it way too frustrating to practice any more that a couple of minutes. Maybe it would help if the locomotive/trains were radically different colors and the switch had a LARGE flag at each position of the same colors indicating which train was now under control.
I know people do it with other remote train control systems, but I have also seen the utter panic when they key in the wrong number for the train or switch they want to control... maybe an adrenaline junkie likes that sort of thing, but not me.