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Following thinking about doing this
Not two plus full time jobs, but slow ramp down of a 10-20 hr/wk client when I started a full time position. It's exhausting and almost impossible to be "good" at both. Unless you are a rockstar - it's not going to end well.
My case worked because one client was aware I had a day job and I knew I wasn't contractually at risk for either.
In a time where you are one of the lucky ones with any employment - you are playing with fire. If you are really doing it blind to both - you need to assume they could be tracking when you are online and exactly what you are doing - you need to be very careful about keeping computers totally separate etc and understand all of the paperwork you have signed completely. Money is obviously great, but reputation is long lasting. If you are good enough to do it- you should be too smart to want to :-).