I want to create a cloud watch alarm which triggers autoscaling based on more than one metric data. Since this is not natively supported by Cloud Watch ( Correct me if i am wrong ). I was wondering how to overcome this.
Can we get the data from different metrics, say CPUUtilization, NetworkIn, NetworkOut and then create a custom metrics using mon-put-data and enter these data to create a new metric based on which to trigger an autoscaling ?
Yes .. Cloudwatch Alarms can only trigger on a single Cloudwatch Metric so you would need to publish your own 'aggregate' custom metric and alarm on that as you suggest yourself.
Here is a blog post describing using custom metrics to trigger autoscaling.
http://www.thatsgeeky.com/2012/01/autoscaling-with-custom-metrics/