I've been trying to do the same thing for a while now, except I was going to block all traffic from the wifi subnet except pptp, so I could leave the AP unsecured (for ease of configuration) and any laptop connecting to it wouldn't be able to do squat until they VPNed into the SME Server.
The problem is a friendly way to add a 3rd nic. You can do it in a script file, but 2 years later when you migrate to new hardware, you've forgotten where the script is, or how you set it up in the first place etc.
I've been toying with the idea of creating a sub-interface off the LAN nic and doing it that way. That would save having to load nic driver and such. It should be easy enough to do (ifconfig eth0.1 addr ... etc) but I haven't had the time to test it, nor do I know anything about iptables or had time to read the docs on it. I suppose blocking all traffic except protocol 47 should be easy.
Damn having children!