Yes you can do this, if you are able to daisy chain the 2 interfaces you are using. This means they both need to have 2 firewire ports.
You might be better off using 1 interface and a small mixer because most small mixers cannot be daisy chained.
You cannot do simultaneous multi-tracking through audacity or garageband so 1 mixer and 1 interface will allow you to sub mix your kit.
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