Photoshop :: Keyboard Shortcut To Toggle Specific Layer On / Off

I just recently discovered the keyboard shortcut for toggling the current layer on and off and it is an incredible time saver.  Is it possible to create a keyboard shortcut dedicated to toggle a specific layer on and off regardless of what layer I am working on?  I use Photoshop for painting and I'll have a layer set up like an overlay, with my line drawing set to Multiply blending mode at about 25% opacity. 

However, as the painting progresses, I need to turn that layer on and off continuously to be able to see my painting without the lines overlayed.  I know I lose a lot of time having to go over and turn the eye off and then back on over on the layers pallete.  I've tried setting something up as an Action, and had a shortlived success, but when I added new layers or moved them around after setting it up, it stops working.  I have to say, it was my first attempt at creating an Action of any kind, so there may be a way to keep it working regardless of what I do to the other layers, Having the ability to somehow dedicate a key for quick toggling of my drawing layer would be another tremendous time saver.