It would be great if we could adjust audio levels in the timeline with the audio mixer and not have to stop the sequence every time we click on audio mixer. It can be done on other programs I wont mention names but it's a great feature. If there is a way to do this I don't know how and would love to know how but I don't think there is. I know you guy's can do it your the best.

 Yes it can be done using automation gain, but you will need an audio mixer with the appropriate software interface to do it.

what software and mixer I've seen it built in on the dreaded FCP its like the only good thing it does.

 Digidesign 002

No solution will give you mixing on the fly in MC. You always need to create an Automation Gain recording event if you want to ride the levels.