Yes, you can have 2 at once, and even more, depending on how often you can get the Fastpasses and when your return times are scheduled. When we were there in October, you could get a new fastpass every 45 minutes, and usually the time for using one was 10-20 minutes after you picked it up. You could also get a FP 5 minutes after the start of the time of the previous one. So, say you have your 1st FP, and the start time is 9:30 am... you can get another one at 9:35 am, then that start time is at 9:55am, so at 10 am you could get another... see where I am going with this?... and you wouldn't have to have used the 1st one until 10:30 am! We did it.... it was GREAT! We just kept going back and forth between ToT and RnR!