Yeah, you've got a workable project there.
One suggestion before you start cutting: I would shift the guitar back another inch or two. Try to get the 12th fret of the guitar about even with the tip of the bass horn. To help balance it reasonably. Doublenecks can be seriously neck heavy if you aren't careful. You are cutting away some of the body of each, without touching the necks. That means that both halves will be independently more neck heavy than they were. Glue 'em together and you'll have double the neck dive.
Also, it will be easier to cut and join them if the join line between the two bodies is straight, not curved like you have it. Just draw a straight line between the two points where they overlap. Two straight edges are much easier to get straight, fitted nicely, doweled and glued up. You can do a curved join line, but it's harder to fit up. Don't worry about the control cavities. You can touch up them up after it's glued up.