Invert or turn Aux Signal mono using Rotary Switch
No, this won't work. Both your yellow and red wires are permanently shorting the Left and Right outputs. They will always be the same, regardless of switch position. You may have the right idea but your illustration does not show it, and I'm not sure you can accomplish what you want with a mechanical switch. Is your AUX input mono or stereo?

It would be much better if you used the built-in schematic editor to draw a proper circuit diagram, clearing showing all three poles.