A system and method for multiplexing multiple images of different colors using only a single spatial light modulator (SLM) are disclosed. In the disclosed system, a first dichroic beam splitter receives an image light of first and second wavelengths from the SLM, and reflects the image light of the first wavelength towards a first mirror and an image light of the second wavelength towards a second mirror. The first mirror reflects the image light of the first wavelength at a first angle, and the second mirror reflects the image light of the second wavelength at a second angle. Further, the system includes a second dichroic beam splitter that receives the image light of the first wavelength from the first mirror and the image light of the second wavelength from the second mirror, and recombines the image light of the first and second wavelengths to produce an overlap image.