Thanks for your reply as well as your example circuit.
Sorry for asking like this, but I've been going back and forth with some others about my project, and I've been rethinking my original circuit. I was hoping that I could get some feedback on my thoughts.
With the LM2673, I can use the current limiting feature (I_adj) with a pot to limit the switch current, so as my load current increases, the output voltage will drop if it exceeds that limit. I verified that in SPICE, so in that sense, I can more or less current limit my regulators, plus or minus 25%. This is done automatically within the regulator, so that takes care of one problem.
I'd like to add an LED indicator of sorts so I can 'indicate' when a limit has been reached, so I still need a current sense feature, but now, it doesn't have to be folded back into the feedback loop. The key thing was my sense resistor at 1 ohm. I have to shrink it down to something like 1 milli-Ohm in order to have a negligible voltage drop, and this way, I can place it alongside NEG_OUT and POS_OUT without worrying about feedback and voltage drop. Does this sound more or less alright? Following this, it seems that the only thing I have to decide now is picking a current sense op-amp.