Reply to Effects MOD build

Sooooo my MOD pro friends, may I get some input on

1. Is this DIY MIDI Effects build possible? Sliders on top to be programmed to control how much of the effect is placed on track. Knobs to turn effects on and off.
(Last minute thought) LED strips to show how far the sliders have gone.

2. If it is possible, What would I need and about how much would it cost. I live in the USA.