Holly, I have just set my torch up exactly as you describe (with a Y
connector)and so far it has worked fine. You can get Y connectors
with small valves on each end of the Y, so you can even turn off the
flow to that particular torch. You can use both torches at once - the
glass shop showed me where they have about 6 torches off 3 lines. I
did install a flash back inhibitor because the flame-working torch
puts out a huge flame and I was nervous about it....
The biggest issue in doing this for me is that I don't have enough
space to have both flame working and jewelry working going at once.
AND you need a fair bit of clearance for the long flame of the glass
HTH - good luck!