looking to emulate Fruity Squeeze

Hello Max enthusiasts,

I'm looking to emulate FL Studio's Fruity Squeeze effect. This is basically a bit reduction distortion effect with a low-pass filter, but includes what they call "puncher" which I can't really quite figure out. Here's what the FL Studio documentation has to say about it:

Puncher Preserve - The number of samples that are left unaffected by the Puncher section. This can vary between 0 samples (knob fully left) to a 1 second buffer (knob fully right). The maximum value is determined by the sample rate setting of the Mixer

Puncher Impact - The number of samples that are forced by the Puncher section to the nominal value. The Preserve and Impact sample variations are alternated (interleaved) in the output sample stream.

Puncher Relation - Determines the relationship between the number of Impact and Preserve samples. Possible values are: no relation, equal, double and half.

Puncher Amount - The Puncher section replaces 'Puncher Impacted' samples by value between 0% (knob fully left) and 100% (knob fully right) of the maximum amplitude. Best results are obtained with low settings (0% for example).

Anyone have any ideas of what object(s) might be used to create this puncher effect? I am unable to use Fruity Squeeze directly because 1) vst~ will not recognize FL Studio's effects on their own, and 2) it would just be more interesting to build it myself.

Any pointers appreciated,
Jay