Recording Two Meetings at Once?

Is it possible to host and record two meetings at once?  I know that when you are in two meetings, one gets placed on hold.  But would the activity, voices, etc of the other participants still be recorded?

I am asking b/c as an educator during these times, I would love to have my students meet virtually in small groups to finish a project we began last month, and also just to talk to each other and see each other.  But my school wants all of these meetings to be with me "present," a scheduling nightmare.  Is it We are having students check in each day (following their schedule virtually) and if I could have them meet during class times at the same time as other groups that would be quite helpful.

Thanks!