To add to the question: The easiest and best way for me would be if I could work in the cutting editor, clipping from one sequence (the one with all the source reels) to another including both audio tracks. That way it would also be a lot easier to navigate than from the source monitor ...
Duplicate the audio track and apply fill left on one and fill right on the other. Read the manual or help file for details.
To do what you want, you won't be able to work with the media as a single clip. You'd have to go into the sequence with the video and two audio tracks, and pick out what you want from there instead of the Source monitor. Make your cuts, laso the clips you're using, then do a Cut/Paste from the main sequence into the edit sequence. Make sense?