This will be similar to a t-shirt customizer.
Step 1:
Select the product type.
Step 2:
Select product color.
Step 3:
Customize product. (Add/Subtract features, designs, extras)
This can be done either with AJAX or Flash, but in the end will be completed as a PHP session variable that can be passed to a shopping cart.
Only bid if you have a demo of this functionality or can describe how you would make it would work.