Effects, things you control with the Effects Control Panel, will only control the layer they are applied to. You can set up effects controls that can be keyframed to expression controllers to adjust the value of effects applied to different layers or you can tie values together expressions.
Here's what I mean. Let's say you have several layers in a scene. Lets' call them face, left hand, right hand shirt and pants. Face is the top layer, immediately below face is a layer called shirt, below shirt is left hand, under that the pants, under that the right hand. Your layer order is dictated by the need to animate the right hand in front of the shirt but move the right hand behind the pants.
You also want to animate the color of face and hands but you can't just put the color adjustment on an adjustment layer above them all because adjustment layers always effect every layer below them. Because of overlapping issues I already discussed you can't pre-compose the face and hands layers.
The way to make one set of keyframes or controls control the hue of Hue and saturation on the face layer control the value of the hue on the face and hand layer is to apply the Hue and saturation to all three layers but add the following expression to the hue adjustment of both hands:
I specifically picked Hue and Saturation because you can not directly access the values in Channel Range with a numeric slider. The expression is simply created by draging the expression pickwhip from the property you want to animate in the slave layer (hands) to the same property in the master (face) layer.
Here's a project file (CS6). This will give you a master effect that controls the others.