Hello, I want to present to you, what I believe may be a much simpler solution. Fewer keystrokes is better.
On my computer, I have assigned many hotkeys to single keys on the keyboard, by putting special entries into the startup lisp called acad.lsp.
I will not go into all of them, but I want to mention two, that seem very relevant to the task you are describing.
Here is what I can do:
I hit the "G" key then hit enter. It prompts, "select object whose layer will become current".
Then I click on a line or a block or other object, and it's layer instantly becomes my current layer.
Why did I choose the G key? "G" = Go to a layer.
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Now for one more:
I hit the "Y" key and then hit enter. It prompts, "Select objects to be changed to the current layer".
Then I select one or more objects and then hit enter, then all those objects get moved to the current layer.
<Why did I choose the Y key? "Y" = Yank objects to the current layer.
Maybe you know the modifications to make the .lsp file, so maybe I don't need to explain that right now.
OK, here's a few more shortcuts that I use: L= line K= polyline J= sketch A= arc E= spline.
A MORE POWERFUL SOLUTION:
Just use the Palette. You can assign a line, a text and a dimension command to the Palette, and you may specify which layer it will be on. The layer will revert back to the original layer when you are done with the command. I think the Palette is a lot more powerful and more adaptable than these other methods. Cheers!