You can't. Disney won't let you make a double reservation, for obvious reasons. People that have tried before have gotten both reservations cancelled.
Besides, a reservation doesn't really help with codes. It's handy to be able to apply them to existing reservations, but every code released (AP, Visa, public, whatever) is for a specific number of rooms. When you call to apply the code, it doesn't matter if you have a previous ressie or not, it only matters if there are rooms available left for that code and date. "Applying" the code is just fancy talk for what really is a rebook of an existing ressie.
It won't do you any good, and, as I said, could actually do you harm if Disney's computer catches on and deletes them both. Since you must give full names for everyone in the party, no matter what credit card or name you book under, it just isn't worth the risk when it doesn't even really help in the first place.
NED