Tugger,
You will have to use the channel with the slider since it will work with variable resistance. Disconnect the three wires going to the variable resistor and find out what the full resistance across the pins. Also take note of whether the full swing is being used on the variable resistor (some controllers only use about 45 degrees swing on the pots).
Then, get hold of a two-way spring return switch (I think this will do the job) and wire up the pins as below:
(http://img228.imageshack.us/img228/5872/tempqt3.png)
The resistors shown in RED will need to be added if the full swing of the old potentiometer was not being used.
Now the calculations:
If full swing was being used
Each resistor = half the old potentiometers full resitance.
If full swing was not being used
(http://img150.imageshack.us/img150/7633/tempnh5.png)
Find the reistance shown, this is the resistance of the resistors shown in RED.
Subtract that resistance from the full resistance and divide by two to get the resistance value of R1 and R2.
Hope this helps, if you get stuck send me an email, I might stick a page on my site that will explain a little better. 8)