there are a couple companies that sell pre-made switches (google search), but i wouldn't recommend them. one of the is called "best-lag" if i remember correctly, and they have timers or sommething built in so you can only lag for 5 seconds max... kinda lame if you ask me. I would just make one.
elfmotat that is a security feature so that you do not get disconnected because almsot everyone has 5seconds + so that way they press it leave it then press it again and so on but yes i think it should be adjustable