hmm, well you could cut down on getting a 3pdt switch altogether actualyl, ive been really stupid thinking about it...if you wire one leg of the LED (remember it has a positive and negative side, dont burn it out by connecting the wrong leg) to the thing it's supposed to be showing thats on is parellel, then you could use a regular dpdt switch...sorry if that didnt make sense :S
from switch<<<___C____>>>to rest of circuit
|_L_|
where C is the thing that will be turned on (i guess the stereo jack?) and L is the LED
sorry, i cant really help with the stereo jack, well i could, but i have a eally weird problem understanding switch wiring so i cant help with that but anyway, you have the Left and Right signals going to the stereo jack right...well if you connect these to one position on the switch, with seperate connections for R and L then take them off 2 other lugs to the jack...then with the mom one, all you hae to do is connect L and R ontot he SAME lug and then take the outputs off the same lug and connect to the jack.
sorry if this didnt make sense or i didnt understand you properly, i dont know too much about electronics, my teacher is completely USELESS!