You need an AC clamp meter, and at least 1 DMM to measure the AC voltage coming out of your amp. Ideally you want two DMM's so you can measure the input voltage too so you can see what voltage you are dropping to
what jesse said... to get proper results, you'll want 2 DMM's, otherwise the clamp doesnt mean much without knowing your voltage drop... you'll also need a test tone generator or cd, as clamping off music won't work... you need to do it off a specific frequency. that and some basic math skills.
The oscilloscope is accurate for detecting clipping, but you'll need a THD analyzer or SMD DD-1 to verify 1% distortion at 40Hz or 1kHz. The SMD DD-1 can be used for more than just setting your gains...