Ableton Forum

First, apologies if this is covered (I searched and didn't find exactly what I'm looking for), please point me to the appropriate thread if so.

What I have:
Roland Alpha Juno-1 (has midi in, midi out, midi thru, audio out)
Roland PG-300 <- this controls the synth's parameters and connects to the juno's midi in

What I want:
I want a looping sequence of midi notes from Ableton to play the synth, while I live edit the parameters with the PG-300 and the resulting live audio to be recorded by Ableton to an audio track.

Is this possible with external instrument on a midi track? Is it a problem that the PG-300 is plugged into the synth's midi in? I assume that's where Ableton would be sending the midi notes in this setup. Is midi thru of help here?

I've only ever played this stuff using live audio, so I'm new to interfacing this equipment back and forth with Ableton via midi.

Not sure if this will work but give it a go. Connect the 300 midi out to the midi in of your sound card. Connect the midi out of your sound card to the midi in of your Juno.
In your midi track select midi from as soundcard midi in and midi out as soundcard midi out.
Let me know if it works.