Keeping it simple is always good, but...
Success in catching a thrown object is equally dependent upon the success of the thrower and the catcher. So, use the rules for thrown objects for the thrower, but you can use their result to modify the catchers DC. You can reduce the DC by an amount equal to how much the thrower succeeds by (but no lower than 1), and increase the DC by the amount the thrower misses by. Thrower misses by 10, but the catcher can still try to pull it in - it's just going to be that much more difficult. Thrower succeeds by 5, and only a real clutz is going to drop it.
Also, the throw should be considered a Standard Action, and the catch attempt either a Move Action or a Standard Action (at least IMO).
Critical successes and failures can still apply too. The thrower rolls a 1, and he tanked the throw to the point it's uncatchable by the target (outside of his movement area, wobbling horribly, only thrown 5 feet, etc.), though it may be catchable by one of the bad guys

- thrower rolls a 20 and he put it right in the catchers hands, he couldn't miss even if the catcher was blind. Catcher rolls a 1 and he becomes known as Butterfingers for the rest of his adventuring career (and maybe longer...) - catcher rolls a 20, and even if it was a bad throw, he pulls off a miraculous diving catch, even rolling and coming up on his feet (Touchdown!).
I'd also up the DC if the catch was being contested by other PC's/NPC's, and definitely up the DC if the thrower or catcher are involved in combat at the time.