Using a yarn cake from the inside and outside at the same time?

Is that possible?
I’ve been knitting with two 3-ply yarn cakes at the same time. Now the smaller one is used up, and I’m thinking about knitting from the remaining one from both the inside and outside at the same time, but I’m worried it might get badly tangled...
Or should I wind it into two new cakes instead?
What do you think?

If they’re wound properly, it’ll work. I’ve already knitted a shawl that way. 

Great! Thanks for sharing your knowledge with me ♡