Vol + Bal + Tone has been done thousands upon thousands of times with great success ... is it the ticket for a specific player is all about personal preferences
here's a diagram of how it's done
typical J-bass diagram:
and blend pot diagram:
wire the pickups to the Blend pot, send the output to the Volume pot with a bleed to the Tone pot.
advice:
* use good quality pots
* solder cleanly, quickly, and minimize iron contact time
* shield the cavity while you're in there
* enjoy the learning experience
all the best,
R