Will this loop switcher work?

[Buthter]

Hi everyone. I'm new here. Recently finished my first Madbean project (first DIY pedal project ever, actually), the Cupcake compressor, and it turned out pretty well. With my confidence boosted a bit, I decided to try designing a very simple loop switcher/channel changer.

Basically, I want my compressor to be on only for the clean channel, and my noise gate and overdrive to be on only for the dirty channel. I don't need any indicator LEDs on the pedal, since its only two states are tied to the amp's channel. Correct me if I'm wrong, but I think all I need is a single 3PDT. Here's a quick sketch:



Am I missing something, or should it really be that simple?