if layers 2 & 3 have transparency, you may be able to use the set matte effect to composite the transparencies of layers 2 & 3 onto a layer that you can then use as a track matte for adjustment layer 1. you’ll only be able to do this if layers 2 & 3 have not had any adjustments made to their layer transform properties (scale, rotation, position, etc) due to the limitations of the set matte effect….
if you think you can work with those limitations, try creating a new layer (comp sized). add the set matte effect choosing layer 2 to take the matte from, check invert matte and uncheck composite with original. add the set matte effect again, this time take matte from layer 3, check invert matte and composite with original (in this case it will composite this matte with the first matte). now use this layer as a trakc matte (alpha inverted option) for your adjustment layer.
the adjustment layer should only effect that area of the track matte which is now defined by the alphas of layers 2 & 3. of course there are effects that may not work like this… time effects like widetime or time blend may or may not work.
Kevin Camp
Senior Designer
KCPQ, KMYQ & KRCW