I wouldn't do both prot. I would like to try one prot and one holy. Both consecrate, P2 heals, shocks and keeps a 2nd seal judged. I have had mild success with 2 paladins in a group. I had to bing an odd key to move foreward on P2 so he would be in melee range and I had to be a bit creative with macros.

From a standpoint of finding new ways to be OP, this probably isn't the best setup but it sounds like fun. That is what would motivate me to try this. There is a post theorycrafting about 3 paladins, if you can find it.