At first this seemed very infeasible to me.
- You would need a 3 second timer for every piece.
- You need a way to prevent simultaneous claims of single board spaces.
After giving it some thought, I came up with a possible implementation. You would need a board with a socket for each square. When a piece is inserted into this socket, it is held in place by the socket for 3 seconds. Each piece would then need an indicator so you can see whether or not it can be moved (based on the status of the socket) and a button to remove it within the 3 second timeframe in case it's been captured.
Two people simultaneously using both hands to move 32 pieces on a 50x50cm chess board still seems like a bad idea. The board would have to be a bit bigger than a normal chess board, with more distance between the pieces. This will mitigate the problem but for the most part this will have to be "part of the game".