Not that I know Max. But setting current channel to 2 probably doesn't "reset" anything, it just doesn't contain anything yet.
The way it's done in Maya is selecting the UVs you want to copy in channel 1. Then in the UV-editor menu's you use the "Duplicate UVs" option, and set it to duplicate the UVs to channel 2. Oh and I think you refer to them as UV Sets in Maya, but same thing.
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anyway my script is here
http://www.luxinia.de/index.php/ArtTools/3dsmax#uvcopy
DO NOT install the plugin, just run the .mcr file once and you will find the macroscript installed
but better look in the max help file I am quite sure that feature became quickly part of max
The way it's done in Maya is selecting the UVs you want to copy in channel 1. Then in the UV-editor menu's you use the "Duplicate UVs" option, and set it to duplicate the UVs to channel 2. Oh and I think you refer to them as UV Sets in Maya, but same thing.