The two styles at once thing won't work beyond a superficial level.
Yes, you can learn to make it through the individual finger movements of a few songs using a couple of different techniques - but each and every song is going to have to be arduously memorized. Instead of making music you will just be going through the motions.

As a frailing banjo player I have been able to take part in a pretty freaking huge range of music. I started simply and got to know one technique so well that I could find ways to use it everywhere.

-Patrick