Well you would need to use a clever way to create a tube system between the two located at the very bottoms of both buckets.
Use 1/2 i.d. tubing, from the irrigation section of homedepot. but you need a way to hook the tubing to each bucket which homedept makes very hard, but with a little engineering I figured it out.
Maybe if I have time I'll throw a picture up of some seals with on/off valves I have made.
As for the gravity part, its simple.
You fill the resovoir to the height you want your bucket to stay, the two buckets will level out with out each.
You cann even add on to this system and install a float valve in the rez, and put a refiller bucket on top of the rez and when it drops the filler refills it leveling everything out.
heres a pic
Living System Nutrient Supply Center by Horizen Hydroponics