We give a detailed and self-contained description of a recently developed theoretical and numerical method for the simulation of three identical bosonic alkali-metal atoms near a Feshbach resonance, where the Efimov effect is induced. The method is based on a direct construction of the off-shell two-body transition matrix from exact eigenfunctions of the embedded two-body Hamiltonians, obtained using realistic parameterizations of the interaction potentials which accurately reproduce the molecular energy levels. The transition matrix is then inserted into the appropriate three-body integral equations, which may be efficiently solved on a computer. We focus especially on the power of our method in including rigorously the effects of multichannel physics on the three-body problem, which are usually accounted for only by various approximations. We demonstrate the method for 7Li, where we recently showed that a correct inclusion of this multichannel physics resolves the long-standing disagreement between theory and experiment regarding the Efimovian three-body parameter. We analyze the Efimovian enhancement of the three-body recombination rate on both sides of the Feshbach resonance, revealing strong sensitivity to the spin structure of the model thus indicating the prevalence of three-body spin-exchange physics. Finally, we discuss an extension of our methodology to the calculation of three-body bound-state energies.