Ableton Live and Audio from Rekordbox

Hey folks,

I'm trying to navigate this oddball world of syncing external devices to Ableton Live.  Is it possible to pipe all audio from Rekordbox into Ableton, Rekordbox effects included?  If so, does anyone have any idiot-level instructions for doing so?

I have a new TR-8S drum machine and Behringer TD-3 I'd like to use together to colour my DJ sets (DDJ-800) and in the medium term I'd like to take advantage of Ableton's effects as well.