If its a road car that will be fine. If it is a race car that runs full load for significant periods of time then it would probably be better to move it further down stream.
In terms of wiring it is simple, just splice or daisy chain CAN H & L to the 2nd device.
In terms of set up there is a small procedure to go through:
You do not set up any extra channels in the CAN setup screen - you should only have 1 channel in there set to "Link CAN Lambda" and it should be assigned ID 950 as normal. The ecu will read data from up to 8 individual CAN lambdas all on the one channel.
Once wiring is completed, unplug the lambda controller that you want to be "Lambda 1" so that only the 2nd lambda controller is connected. Then go to the CAN devices tab and hit "find devices", the lambda that is connected should be found but it will still be recognised as "Lambda 1", click on the Lambda 1 drop down and change that to Lambda 2, then hit the send button - that will re-program the 2nd device to be Lambda 2. Shut power off, plug the lambda 1 device back in (so now both lambdas are connected to the bus), then power up again. Now you should have both lambdas communicating, one as Lambda 1 & one as Lambda 2.