On the PC you can bind keys 1-8 on the favorites menu. Just hover over the item in the favorites menu, press the number want want it bound to, and now whenever you hit that hotkey it will switch to that weapon. It gets a little trickier with dual wielding if you are using 2 of the same item. Right now I have 2 identical crafted daggers and if I switch to bow then back, it will only equip my mainhand. Whereas if I am using 2 different daggers, when I hit the hotkey for my mainhand the offhand will equip also.
Unfortunately I have no found a way to bind 2 weapons for DW into one hotkey.