From the sounds of it, you already have an mpx RIFLE. In that case going from rifle to pistol is a no no, since when you bought it, it was sold as a rifle, so if you put a shorter barrel on it, it'll be a sbr even with a stupid "brace".
The process for a form 1 is straight forward, you fill out the form, as either an individual, trust or llc. You are the manufacturer, you will list the manufacturer of the rifle and serial that's on the gun. In your case, sig arms, model mpx, caliber 9mm. Then put your barrel length you want, and you will need to know your expected over all length. Write a check for 200 bucks and since we are lost 41p, you will also have to submit finger prints and photos of yourself and if filing as a trust or llc anyone else that's on the trust. They will keep it on record I believe two years. So if you build/buy more, you won't have to repeatedly send them in. AFTER, you get approved is the only time you are legally allowed to install parts to complete said sbr. General rule of thumb is to not have said parts on hand, but in reality, if it's boxed up and separated from the rifle, the likelyhood of an ATF agent asking to look in your house is slim to none. Also before you can "complete" this sbr, you will have to get the name of the trust if you go that route and city,state of manufacture engraved somewhere on the receiver.