Yes, network devices can be configured to send traps and syslog messages to both servers. You just need to configure two "logging X.X.X.X" lines and two "snmp-server host X.X.X.X" lines. The leading practice is to limit the number of trap and syslog destinations to no more than four to prevent overwhelming the device. If you need more than four destinations, you should go with a trap/syslog forwarder application.
For other leading practices, you should check out the LMS whitepapers at http://www.cisco.com/en/US/products/sw/cscowork/ps2425/prod_white_papers_list.html . Of particular interest will be the large scale deployment guide.