sure.
lets say you have 2 protons and an electron. this is a hydrogen molecule ion: H2+.
let the distance between the protons be R and apply the Born-Oppenheimer approximation such that the protons do not move. The chemical dynamics of the molecule is determined by the electron motion alone. We write this as the electronic Hamiltonian
He = -h^2/2m * ∇^2 - e^2/rA - 2^2/rB + e^2/R
if you let R approach infinity and look at one of the protons (lets call this one proton A) the potential looks very much like a hydrogen atom. Likewise, if you look at the other proton called B, the potential also looks like a hydrogen atom.
ψA = β*e^rA/a0
ψB = β*e^rB/a0
where β is a constant of normalization. so for the case that R = infinity, the assertion that the molecular wavefunction ψM is the normalized sum of the 2 hydrogenic wavefunction is correct. if R is reduced to some finite number, here's the thing: while ψM = C1*ψA ± C2*ψB is no longer exactly true, it is a good approximation. Indeed it turns out to capture the correct qualitative behavior, although energy calculations require much more sophistication.
ψM = C1*ψA ± C2*ψB
we know that the nuclei are identical, so the electron distribution must be symmetric. The only way for this to happen is the absolute values of C1 and C2 are the same, otherwise the electron would spend more time at one of the protons despite both protons being identical. So |C1| = |C2|.
So the molecular wavefunction is actually 2 wavefunctions:
ψM+ = C1(ψA + ψB) and ψM- = C1(ψA - ψB)
For ψM+ the wavefunction is very low far away from both protons and hit a peak at the nuclei.
But it is nowhere zero. That's the bonding orbital.
For ψM- note that the wavefunction has a - sign. That means it crosses zero somewhere. When you graph it, it turns out that it crosses zero between the protons. Therefore, when you square it, there is a point in the graph that is a ZERO (node) and has NO ELECTRONS there. That is the anti-bonding orbital.
When you promote an electron up from a bonding orbital to the anti-bonding orbital, you're giving existence to a system state that includes a node between the 2 protons, which separates them.
Here's a wiki article that explains this in a better way and adds the energy calculations to boot.
http://en.wikipedia.org/wiki/Holstein–Herring_method