Although I wrote in the comment above that I think this conditional disabling is not required, here is some code. I used the letter f and tested in in Notepad.
Pressing f returns Hello
Pressing ^f should give hELLO, but since the #IF is not true the notepad find opens up since the system sends a regular Ctrl+f.
Same for !f, this opens up the File menu.
WARNING you MUST have autoHotKey_L installed for #IF to work!
#If (NOT ((GetKeyState("Control", "P")) OR (GetKeyState("Alt", "P"))))
f::Send, Hello ; Should execute as long as Ctrl or Alt are not pressed.
*a::Send, QQQQ ; The * ignores all modyfiers, not executed when Alt or Ctrl is pressed.
^f::Send, hELLO ; should never execute due to #IF = False
!f::Send, olleh ; should never execute due to #IF = False
#IF