If one wants to direct wire this switch to a 230 v 3/4 hp pump, are there two hots and a common lead of sufficient gage that can handle the amperage?

You break L1 with the 2 float wires, like you wire a light switch. L2 is connected directly to the pump; L2 uses no switch in this line – see L2 in the diagram. The pump will not run slowly because we are not breaking L2. You need a complete circuit to run the pump. No float switch breaks both L1 and L2 for 230V. Please call us at 800-346-7611 and we can send detailed instructions.