'virtual' print queues?

I'd like to create a print queue that redirects an print jobs it receives to
another printer twice, using a different paper tray each time. Is this
possible? How would I go about doing this?

We're currently printing to an old dot matrix printer that has a custom
multi layer (carbon copy type) form. Each layer is a different color. I'd
like to replace the printer with a laser printer, and just fill the
different colored forms in different tray's on the laser printer, but I
don't want to have to print things out twice in our application.

thanks,
-Vik