Is there a way for me to add a custom keyboard shortcut to execute this command:
asusctl profile -n
In the mate desktop you can go to Control Center -> Keyboard Shortcuts and create any custom shortcut you wish. I believe same can be done in kde plasma. I am not sure about gnome.
It depends on your desktop.
tom kosvic
When I create the custom shortcut in keyboard settings how would I set it so it executes a terminal command.
You got an answer assuming you use the Mate desktop. I have no idea if that poster guessed that, or read your mind, or whatever. In case you do not use Mate, it might be more efficient to tell us which DE you use, so people do not have to create answers for all the possible desktop environments.
If you are doing this in a terminal, it might be easier to use a bash alias.