just layed this out. it's unverified but i think everything should be good.
the relay is probably going to be a tight fit beside the PIC chip, depending on the socket size, etc.
The layout was modified by madbean to use a lower cost relay
note: you will need a PIC programmer to program the micro controller to build this. you can find the code and other details here:
http://www.codaeffects.com/2017/02/relay-bypass-final-code.htmlHEX code here:
https://github.com/benoitme/relaybypass/blob/master/dist/default/production/Relay_Bypass_on_press.X.production.hexThe P-FET is a photo-fet which reduces/eliminates the popping that you get with other switching schemes.
The M/L switch toggles between momentary mode and latching mode. I wanted to use a DIP switch here, but i don't know if they made a SPDT in that format. if you only want latching operation omit the M/L switche and jumper the M/L Sw connections on the stripboard so pin 4 of IC1 goes to ground.
and schematic