My concern is that if I use it to control the flow of my RIMS, I will end up losing wort through the other valve, which will be used to transfer to my brew kettle.
It could be a three way valve (which can be used as a throttle by closing off one port) or a two way valve with Triclover (3A) fittings (can obviously be used as a throttle) or a 3-way valve with Triclover fittings.