Reply to Shiftkey for 2 units

I'm just theorizing at the moment as I only have 1 midi controller, but would it be possible to use a modifier key mapped to 1 device, to affect a secondary device?
For instance, I want to use a button on my NanoKontrol to switch on the cue point mapping I would have on a Midi Fighter style device. Press the NanoKontrol button again and I can use it for effects.
I'd like to know before commencing work on mymidi fighter ripoff build as I would need to reconsider my design a bit if its not.