Hello Waleed
It is possible to create multiple VPNs between the same two peers. You can also have one tunnel use IKEv1 and the other IKEv2 and have the same sa for both. You shouldn’t have any issues as long as you use different ACLs to define the VPN traffic and a different transform-set for each. The more pertinent question is why would you implement something like this rather than having a single tunnel? Unless there are exceptional circumstances, this introduces a level of complexity that is not necessary.
I hope this has been helpful!
Laz