I agree with Keith, that is the best way go. I currently have the same setup on my overflow and I get comments all the time about how quiet it is.
Essentially, with the ball valve, you max out the one line, and anything extra will flow down the second. It also acts as an emergency drain in the case the first one gets clogged (snail, algae, etc.) So if you're not pulling any air, then you're not making any noise!