UPDATE: For anyone searching the forum, here is a piece of code (Classic ASP) I wrote quick that works great. This way, a user hitting "plasticwidgets.com/company.asp" will be properly redirected with a 301 to "widgets.com/company.asp"
So in IIS, I created a new web site that "plasticwidgets.com" and "steelwidgets.com" point to. I set the 404 page to "default.asp", and put the code below in "default.asp"
Code:
<%
var_redirect = request.servervariables("query_string")
var_redirect = replace(var_redirect, "404;http://", "")
var_redirect = replace(var_redirect, ":80/", "")
var_redirect = replace(var_redirect, request.servervariables("server_name"), "")
response.status="301 Moved Permanently"
response.addheader "Location", "[http://]www.widgets.com/" & var_redirect
%>
'Note: remove the brackets in the "Location" above. The forum doesn't allow newbies to post URLs, so I had to do that to break the form.