Hi Brandon,
That’s possible, but there are some routing limitations. You can take only up to 16 inputs from each card. You can output up to 64 channels to each card, but the patch is shared (the same outputs go to both cards).
The alternative is to use M-Waves for both recording and plugins. In this case, you could set the system to take up to 48 inputs from the card.
You’ll find the different options in the Mixer Preferences menu / Port B ACE settings.
Hope this helps.