Ok so I see that this is rather unconventional...so my question is how do people who know what they're doing record seperate tracks simultaneously?
They use a multi-channel sound interface - such things do exist, you know! The interface on my laptop will record 16 separate channels simultaneously
easily, (20 at a push), and you can monitor whatever you want. Not only that, but you can use it for separate submixes as well, whilst you are doing this, and have 4 different mixes appearing on 4 pairs of output sockets - all the time continuing to record each track separately. And all through one Firewire connection...