So, I'd use those same switches as my cut-offs for the motor as well?
The below switch may be all that is needed.http://www.radioshack.com/product/index.jsp?productId=2062530
Right. See http://www.robotroom.com/DPDT-Bidirectional-Motor-Switch.html for how to put that together with the limit switches (scroll down to the last schematic). You would have your LEDs light up by connecting them to the normally open side of the limit switches.