Hi Mike,
At first I thought Transair's reply made sense, but can't see how the 1/4" adaptor can pick up the mic output because I thought it was only wired through the 3/16" jack on headsets. Maybe it's commoned to the Rx jack as well these days. Not to worry, because it's the headphone input that your wanting to connect to!
Now the PAW (Rpi) output is 4 pole TRRS as I understand, tip, ring 1, ring 2, and sleeve. You can get a suitable cable and cut it and solder the connections to a 3 pole 3.5mm jack or whatever but it's not really necessary. I have just used a 3pole jack/cable to connect to the PAW as Jeremy and Paul first suggested. OK it shorts ring 2 and sleeve together but that is no big deal as you are effectively grounding the RPi video output which we are not using anyway.
Tip is LH audio, ring 1 RH audio and sleeve then becomes common ground. I believe it outputs identical audio on L and R, so in the case of your adaptor it would feed identical audio to both headphones I.e. Mono audio.
It worked for me, though I did connect through an amplified mixer that I strung together to feed the radio aux input, so both P1P2 hear it rather than direct to a headset as you propose.