I usually do that using track composite level. I just switch between the 2 cams using the envelopes. This only works for straight cuts or crossfades though.

I usually create a "Master" track (track 1) and put the cameras on tracks 2 and 3. Then, I take the clips from each camera that I want to keep and put them on track 1. To add a dissolve between the two cameras, just click on the cut point and press "/" on the numpad - this will add a crossfade. Then, you can drop any dissolve onto the crossfade if you want something different. BTW, numpad "*" and "-" add two other transitions instead of a dissolve.