Remember higher gauge is smaller wire. And find someplace to get a whole spool of it! I ended up having to buy individual 25-foot boxes from Menards cuz I didn't want to wait for mail order, and I paid 10 times what I should have and went through 10 boxes of it for my 4-player cab. For two 6-button controls, measure from the center of each layout, horizontally across the panel, then vertically down to the ipac, and multiply that distance by 12 (to have extra), and that's about the length of cable you will probably use for that controller.
I used 16 gauge stranded wire because it gave me nice sturdy wires, but electrically 20 gauge should be enough for everything. Get stranded, not solid, it bends more than solid without breaking, and is easier to solder and crimp. 16 gauge was a little bit too big for my Molex pins, but it worked anyway. Might come undone later, but hopefully not.
If you use crimp-on quick-disconnect connectors, get connectors that you can fit two wires into. That makes wiring your ground loop suck much less.
I suggest wiring each little set of controls (i.e. one group of buttons, one joystick's switches, the start/coin buttons) to a separate loop of wire, if you're using 20-gauge. When you attach them, leave a wire hanging off each loop. Then connect those hanging wires together to a wire that goes to ground. I'm probably taking theory too far with this, but I think that gives you the most reliable ground loop, and might help with debugging. (if none of player 1's buttons work, but the joystick does, you know where the problem is.)
Also, you should have a continuity tester of some kind. Either a cheap voltmeter that can beep if you touch its contacts together, or a plain continuity tester. It's hard to check for problems without it. If you plan on using any LEDs that aren't pre-made ready-to-plug components, you have to have a voltmeter.