Ableton Live 8 and Korg Kaoss Pad (KP3)

[Icedrag0n76]

Hi everyone!
Can someone walk me in setting up Ableton to send information to my Kaoss pad for effect processing, then sending it back to a track in Ableton.

My set up:
Mac os X Snow Lepard / Live 8
Connected to
M-Audio Ozonic 37-Key Audio/MIDI Firewire Interface and Controller via USB

Korg Kaoss Pad (KP3)
Connected
Mac os X Snow Lepard via USB

Audio:
M-Audio Ozonic 37-Key Audio/MIDI Firewire Interface and Controller
to Monitors.

Both the Ozonic and the KP3 are connected via USB to my Mac.
Is there any way I can route route audio from Live to the Kaoss Pad and back to Live, within Ableton Live?