...Xbox as the player for my projector ... or xbox on projector.
what? both devices are listed twice in that statement above.
provided using one device at a time is what you want and you dont need to mix or match sounds between devices (sound from xbox while playing on ps4 for instance) its a simple hdmi from devices to inputs on receiver with output of receiver to the projector type of scenario
if the content is 7.1, it will play in 7.1 with this normal setup.
not sure what you mean about the tv2, you will need to explain.
again, i'm not sure how what you need differs from a generic setup with hdmi cables. you need to explain why a normal setup will not work for you if you have special needs.
if you need a picture, here is a...