From one of our older threads...
The max stall current of a LM-2 is 2.0 amps. The continuous running current should be less than 1.0 amp. The LM-2 motor output is short circuit, overload, and module over temperature protected. So if you connect a motor that is too big for it to drive it will turn off and report one of the above faults.
Yes, you could hardwire two locos to be controlled by one LM (we have members who are/will be using them in a dual motor setup but that two motors per locomotive) but you'd definitely need to be careful of how much current you'll draw. I'd say give it a shot, even for just the experiment value.
- Tim