Haha I see. Say OD is in loop 1 and Dist is in loop 2. When you have your Y engaged, both on at the same time, do you want the OD fed into the Dist (series, A -> B), or do you want your signal to split, go into both pedals, come back in and be summed together (parallel)? Series is the most common and it would be just like turning both of them on at the same time if they were in the normal chain.
I just wasted about 6 post-it notes doing a diagram, but I'm totally blanking on it now. I'm pretty sure I've seen it done, but without a 5PDT switch or relays (which would be a bit easier), I'm coming up short. I'll keep thinking about it.