New twist on sharing content roots?

I know the "theme" of this question has been asked many times in the past, and I've read many of the posts, however I'm still at a loss. Either my situation is slightly different than the common case, or I'm not understanding the solution.

I have "source" that needs to be compiled and run against different versions of a library. I wanted to create three modules, and have them share the source, but set the module libraries up to point to the correct version of the jar I'm compiling and runing with.
I thought I would be able to open up module A, compile and run things in there, and know it was using libA.jar. Then when I open up the same source in module B and run it, it would use libB.jar, and so on.

However, because of the no sharing content roots, I can't share the source. Maybe I'm thinking about solving this in the wrong way. I know I can create ant scripts to compile and run with the appropriate libraries, but I was hoping to take advantage of the IDE's built in compile/run since it is easier while developing.

Thanks for any help you can give me,

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