Hi Lawrence,
It isn't possible to have multiple "Symbol Classes" that behave similarly to "Label Classes," with or without Python. Whenever I want to apply different symbologies to the same layer/dataset, I create multiple copies of the original layer and then give each copy its own definition query and symbology. Even if you wanted to automate this process with Python, you'd still have to have pre-existing layer files with the desired definition queries and symbologies, which could then be imported into your new layers.
Good luck!
Kerry