Simultaneous H1B application and H4+EAD

[sgs1986]

I am currently on a H4+EAD and my spouse is on a H1.

My spouse's employer is filing for a H1 extension in November through premium and his I-94 expires in December. 

My employer is also willing to file for a H-1B (cap exempt employer) in November. 

Could my spouse's employer file for the H4 and EAD via AoS with his H1B while simultaneously asking my company to file for my H1B through consular processing?

Assuming my H1B is approved first, will a H4 approval from my spouse's application overrule my H1B ?
Assuming the H4 and EAD gets approved before my H1B, could I then visit a consulate abroad and get the H1B stamped to override the H4?

Does the last action rule apply in this case?

I'm trying to manage the risk since there have been so many denials and RFEs in the last few months

 

Thanks!

[satya2k1]

Yes, the last action rule apply.  You are on right track.