I remember doing a couple art projects in highschool with Rit dye. One technique that may possibly work, and look cool, is using paraffin wax. It goes like this:
Sand your stock to accept the new finish.
Melt the paraffin in a cleaned out soup can.
Using a paint brush, and stencils if you like, "paint" the wax over areas that you do not want to receive the dye.
Dye the stock with your first color and let dry.
Remove the waxed area using an iron covered with an old t-shirt.
Once all the wax has been removed, dye those areas with a lighter color.
This can be done in as many layers as you like working backwards with the darkest to lightest colors.
Kendall