Try to somehow justify having three people doing magic, either through interaction with each other or some theme for the show. Otherwise, it might just look like three guys who do tricks running around onstage in a disorganized way.
For example, each of you could dress like a "professional wrestler" and do "Tag Team Magic," actually tagging each other in and out, maybe setting up some conflicts and pushing each other around...put someone in a headlock, then pull a mouthcoil out of his mouth...one guy ties the other one up...he cuts the rope to escape...then the first guy restores it...etc. Have fun with it!
It'd be a lot more interested than, "Here's Bob...and now here's Jim...and here comes Fred...and now Bob is back...etc."
And if it goes over really well, you can send me a check for my consulting fee.