Ok all, I finally received the flip key fob and switched the chip and internal buttons on the OEM key fob. Below are instructions and pictures. Let me know if you have any questions. It's a pretty simple mod.
OEM Key
Open OEM key fob by separating with a small flat tip screwdriver on the notch
Opened OEM key fob
OEM key fob with button cluster removed
OEM key fob security chip location
Once you remove the button cluster, you may to fill the key fob with a napkin or something to hold the function buttons or they will fall out.
eBay flip key fob has two small phillips screws. One on top and one on the back inside a small hole. Remove them to open the flip key fob. ** Be careful when removing the part that holds the flip key as it will pop out if you're not careful** I would work on the larger back part first (button part).
Place button cluster from OEM on the flip key fob
I decided to remove the security chip from the valet key instead of the OEM fob as I will not be using the valet key and it's a lot easier to remove than the OEM key fob.
With a razor or a sharp utility knife cut the rubber in the lower center part of the key. You only need to cut enough to expose the white plastic that holds the security chip
Place the security chip in the flip key slot. I used contact cement to secure it in place. Wait for the contact cement to dry before you put it back together.
Insert both covers back on the flip key fob and replace the screws in place. Stick the Toyota cover over the screw hole.
I called a local Toyota dealer to ask how much it would cost to have the flip key fob cut and they said it was free as long as I provided proof of insurance and a copy of my driver's license. The didn't need the original key as they use the VIN to cut the key.
I tried and it WORKS!!! I love my new flip key fob