The short answer is that there's no easy straight forward way to do this. What makes this a difficult problem is trying to determine what is a first or last name. For regular 2 word names that are obviously proper names, it's easy: Bob Dylan should be sorted under D, and James Taylor should be sorted under T.
But what about Stevie Ray Vaughan? Under V of course, but how does the computer know that? For example, Flock Of Seagulls has the same number of words, but it should be sorted under F, which is the first word. What about The Miles Davis Quintet? M? D? Certainly not Q. Probably M. But if you also have Miles Davis by himself in your collection, do you want all Miles Davis variants to sort next to each other?
So this becomes an exercise for a human being to do. You can easily make your own field called something like [Artist Sort], which becomes the key for your view to sort by. Then you display [Album Artist (auto)] and you get what you want.
There are ways to intelligently pre-populate your Artist Sort field with a best guess, and then override the ones that don't work automatically. I would do a 3 tiered system like:
[Album Artist (auto)]
[Album Sort Manual]
[Album Sort]
[Album Sort] would use a calculated value of something like swap([Album Artist (auto)])
OR the value of [Album Sort Manual] if it exists. Using the firstnotempty() function.
I just tried the "swap" expression on my library and it produced (seemingly) many more wrong values than correct ones. I guess I have a lot of bands with band names, as opposed to individual artist names. I would have a lot of work to do to make my artist list sort the way you are wanting. Perhaps your collection is different than mine.
I hope that helps answer the question.
Brian.