Howdy CaptAl:
When deciding about a medical "treatment" you must determine if your plan is safe, effective, and, of course, cost effective. I don't have a definitive answer for you because I'm not aware of any good information specific to disinfecting masks and snorkels, but I can share some random thoughts.
The method of disinfection you choose must be safe for both the gear and the diver. As pointed out by Walter and scorpionfish, the Lysol idea probably isn't a good one. It might be effective, but I doubt it would be safe for the gear or the diver.
Listerine would be safe for the diver, but I don't know how the gear would handle it. I also don't know how effective a solution of dilute Listerine would be (probably not very) for say disinfecting a pile of rental gear between uses. Occasionally rinsing your own mask and snorkel with Listerine would be pretty simple, but repeatedly rinsing a stock of rental gear would get cost prohibitive in both time and Listerine.
Household bleach is an effective disinfectant and is recommended by the Centers for Disease Control for disinfecting surfaces. The more dilute it is, the less effective it is, but the safer it is. A 10:1 solution of bleach is still somewhat caustic. The CDC recommends a solution of 1/4 cup of household bleach in 1 gallon of cool water for disinfecting surfaces. The bleach solution must be made up daily as it loses potency rapidly. Soaking a mask and snorkel for 10-20 minutes ought to be effective, and if the gear is rinsed thoroughly it should be safe for the diver, but as Walter has pointed out chlorine ain't that good for gear.
I don't have any info one way or the other on the safety or effectiveness of Shaklee's Basic-G. I usually take Walter's word for things, though.
As Walter and scorpionfish pointed out, a good cleaning with a mild soap and water should be effective enough for a mask and snorkel, safe for the diver, and safe for the gear. It's certainly adequate for your own gear. And as scorpionfish pointed out, don't forget a thorough drying. Bugs like it wet.
HTH,
Bill