Isn't this basically a Burton-Union?? There's an article on this from BYO that makes this pretty simple, and uses plastic parts-- should help in your design.
Just my .02. Great idea, though. Love the schematics.
W
WortMonger
Yes, it is a BU. I am using it more for wort recovery than for yeast, and I need a low rise design for my lagerator ceiling height.