I was thinking about a similar deal this morning, but I only think the C's consider trading Ray for Jefferson and Gadzuric is if they throw in their lottery pick this year (and the C's could possibly throw in a future pick or something).
Jefferson is not an upgrade over Ray, and his contract is not great, when you consider someone like Butler, who is a superior player makes $8 million less over the next two years. And then when you throw in Gadzuric, whose contract has become an albatross, in the Mark Blount realm (Gadzuric tries harder, but Blount was a better player), it is not a good deal.
Now, perhaps if it were Ray for Jefferson and Ridnour, the C's would consider it. Ridnour would go a long way to solving the problem at backup PG...and his contract is coming off the books. But I still don't think this is an enticing enough deal to get them to break up the big 3.