When you said to restore and activate the ipod touch again with itunes, is that only to give the ipod touch a new certificate so it isnt shared with the iphone? I can skip the restore if I dont plan on using the ipod touch though correct?
It is definitely possible to do this with a 2nd generation iPod touch. You can simply jailbreak with Redsn0w 0.9 redsn0w 0.9beta3 [iPhone Dev Team] and then proceed to export the certificates. Afterwards, you should restore the iPod Touch in iTunes and let it activate via iTunes again.