I didn't add blank video between the clips. I just used a long black video track to setup the sequence. This was placed on a different track than my a and b cams. Once the clips were placed I deleted the black video track. I used the extract tool to remove the dead space inbetween the video clips where no camera was rolling. I don't need the multiclip to playout in real time, I just need them in sequencial order and the cameras in sync. To place the clips on the sequence at the correct time I used Felix's method of loading the clip in the source viewer, setting the playhead to the beginning and copied over the timecode from the source viewer to the sequence and then hit enter. This placed the playhead at the same time in the sequence and then I inserted the clip. It worked like a charm and it was pretty easy. It just required a lot of copy and pasting. I was looking for a more automated method. I may have to add it to the feature request list. - not sure what ganging source and program monitors is but I will look it up. Thanks!
P.S. The automate to sequence feature is almost what I was looking for. I just needed an option to place the clips on a specific track accoring to their timecode.