Can i have both I-140 an I 130 ?

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Good morning! I was hoping that you can guide and advise me here so that I can take the best options.
I am in this country from 2010 on my H1B and have I-140approved on EB2. (Priority date-Aug:2016)
My brother is a US Citizen (By naturalization) and would like to file for I-130- Family based (FB4) Petition.
Can we file for family based petition while I continue with my employer based petition? - IE, 2 petitions at a time?
Is there any advantages /disadvantages of doing this?
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