As luck would have it I was stopping by Radio Shack for a completely unrelated reason and BOOM - there in front of me was a wall of cables and amongst those cables was a dual headphone splitter that looked like it would fit the bill.
So I bought it, went directly home, did not pass GO, did not collect $200, and immediately took out my Pocket Wizards and flashes for a test.
It worked perfectly, both flashes fired from a single Pocket Wizard every time!
The best part was that the splitter cost me $6 (okay, maybe it wasn't really the best part, but it made me pretty darn happy).
Combining the splitter and the sync cables provides about 20 inches of separation between the two flashes, but Radio Shack also has extension cables (in lengths of 3,6, and 12 feet) to will give you greater separation and will cost you under $10.