That's very doubtful. The states have not been able to get around other Federal gun laws like the NFA, '68 GCA, or even the original '94 AWB, so I don't see how they could get around a new AWB unless that provision were specifically written in. As I recall, one of the western states tried this a few years ago by arguing that firearms made and sold entirely within their state were not subject to federal law, but I don't think it went anywhere. Were the AWB ressurected, about the only recourse I could see the states having in the matter would be to file suit and take it before the courts in hopes of having it declared unconstitutional just as they tried (and failed) recently with the Affordable Care Act (Obamacare).
What if: In an AWB being reinstated scenario, a state governor passes a law that has citizens send in an application to their local sheriff/PD for a permit that grants ownership of guns that fall under the AWB. The only requirements for a permit are basic ones required to purchase a longarm(background check, 18 years of age, etc). De jure, AWB guns are restricted to civilians(except permit holders), but de facto it's almost business as usual before the AWB.