could it be possible to have two guitarist and two drums play solos and make it sound fantastic lol
Have you ever listened to Black Sabbath?

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that's not a solo bro, that's called a band rockin out.
Im gonna pistol whip the next guy that says shenanigans !!!!
Judging by the question "can two people solo at the same time", I'm guessing you're the drummer?
New To Town With A Made Up Name

In The Angel's City

Chasing Fortune And Fame
Solo = Play/sing lead or alone
Improvise = Bunch of notes in a blender

Shenanigans \o/
just to actually answer you're question maybe if they played the exact same solo the exact same time it would really sound cool
Call it a duet then. The name of it doesn't matter. What TS wants to know is whether it would work to have to guitars playing what would be considered solos if played alone. The answer is yes, however, it is going to be much harder than one solo would be, as they need to compliment eachother, and it is difficult to coordinate them (especially with the drummer "soloing")
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Listen to the way the guitar and drums blend together in "Stairway to Heaven." There are cool little drum fills while the guitar sustains notes.

listen to live versions of freebird.

im not saying this just cuz i love freebird, but at the end they usually just jam out playing random stuff for like 4 minutes.
at sometimes the rhythm guitar drops out and starts playing leads to, and there are three guitarists "soloing"at the same time
98% of people have read that stupid 98% teens and alcohol sig, put this in your sig if you like getting hammered.

Thats it.
Check out Reach Down by Temple of the Dog. Two guitars sharing a guitar "solo" for about five or six minutes. Don't remember how long the solo lasts, but it's a while. It's pretty cool.
Listen to the bridge in "No reason to live" by Chimaira