three-way switch vs three-point switch

three-way switch and three-point switch both are nouns.

Word	Noun	Adjective	Verb	Adverb
three-way switch	Yes	No	No	No
three-point switch	Yes	No	No	No

As nouns, three-way switch and three-point switch are synonyms defined as:

three-way switch and three-point switch: an electric switch that has three terminals; used to control a circuit from two different locations

three-way switch (noun)	three-point switch (noun)
an electric switch that has three terminals; used to control a circuit from two different locations	an electric switch that has three terminals; used to control a circuit from two different locations