Using Arduino for Dual PTT - single headset setup

I believe first timers requires introduction. I am new to Arduino, never done any actual stuff, just tutorials, guides and general browsing for one of my personal problems.

For one of my hobbies I run two walkie-talkie (PMR466) at the same time. I have single headset.

My idea is to have 2 radios connected to Arduino, 2 separate PTT buttons connected to Arduino and single headset with mic also connected to Arduino. I plan to run Arduino like "wearable electronics with portable energy source/battery"/

I read that with some programming I can do the following functios"

IF Radio 1 is receiving (signal is inputed to board and routed to audio output to headset), input from RADIO 2 is blocked. + Added time delay for this function that after RADIO 1 stops receiving the block stays for X ms.

Same goes for if Radio 2 is receiving.

Second function is transmiting.

If PTT 1 is pressed (corresponding to Radio 1), the mic input is activated, radio 2 receiving pin is blocked, ptt 2 buttong is disabled and voice signal is transmitted from Mic input to radio 1 mic output.

I hope it is generally understable idea. I believe that some sort of IF conditinal code is required with some time delay function on each IF code leg, also some High/Low On/Off for sensing PTT buttons.

My question. Can it be done with only Arduino board and no additional electronics soldering, cause I have no competence in that? Simply, I want to use board as conditinal analog signal gateway/router.

looking forward to some profesional opinions should I start this project or should I opt for of the shelf solutions.