It seems that the launch itself could be created as a live copy which means it would be in sync with its source. Wouldn't that serve the purpose? You may uncheck this property and customize the live copy wizard to show launches as source but that would be another level of end-to-end customization.
In theory, live copy of another live copy doesn't make sense unless I'm missing the point.
Creating Launches
Inherit source page live data: Select this option to automatically update the content of launch pages when the source pages change. This option achieves this by making the launch a live copy.
By default, this option is selected.