Can I use a Leviton MS302-DS switch as a 3-way switch?

No. That is a Double-Pole, Single-throw (DPST) which switch both hots on a 240 volt load.

For 3-way, you need Single-Pole, Double-Throw (SPDT) switches for 120 volts or Double-Pole, Double-Throw (DPDT) switches for 240 volts.

I have no idea how easily you can find motor-rated DPDT switches. One other solution is to use DP, normally open relay, motor rated, with a 120 volt coil. And power it through standard 3-way switches.

I need to post this as an answer bc SE doesn't support pictures in comments. I was intending to do nearly the same thing as you are contemplating, but couldn't decide on the best location for the switch (only 1 in my case). Then I found this remote control designed for a dust collector and really like it. I've had it for about 20 years now and it still works perfectly...maybe replaced the batteries in the remote twice. All you do is plug the DC into the receiver and the receiver into the power outlet and your done! The image shown is for a 120 volt receiver but there are 240Volt ones available (which is what I have for my 3 HP unit).

This one is about $70, which may seem a bit pricey, but when you add up the cost of switches rated for the HP of your DC, conduit, wire, boxes, etc. for a few extra bucks you have the convenience of having the remote clipped to your belt, at your fingertips.

EDIT: Yes, I know product recommendations are OT here, but I'm not recommending a specific product, just a different approach to the problem than the OP was thinking about.