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There are 2 3rd party plugins that offer multi-cam support in Vegas that I am aware of that have been received favorably: Excalibur by JetDV and the Ultimate S plugin from VASST.
Let me say up front that I have no experience doing multi-cam yet, so I have not used either one. I won’t begin to claim it is superior in anyway to PP and don’t want to seem like I am arguing against PPro here. Just throwing it out for informational purposes.
I happened to come across this article today — http://digitalcontentproducer.com/workflow/multicam_roundup_part/
and the author discusses how the VASST plugin works and compares it with PPro a little bit. It is the first part of a series, I guess, so it is not complete.