So uh, are you capable of flipping a switch on and off in the 1ms range? IAC valve is a glorified stepper motor...
Now if you wanted it all the way open or all the way closed then yes, you could use a single switch... but you'd need a dual pole dual throw switch and a rheostat. Technically, you'd need a single throw dual pole also so you could disconnect the computer from the IAC when you want to control it.
No matter what, it can be done. I still think I'd end up using the cruise control servo.