Is 500mL really enough for two rolls? The bottom of the tank recommends 500mL per roll, but maybe they mean per tank?
The information on the bottom of the tank doesn't tell you how much of a solution you need to properly perform a particular process. It just tells you how much liquid (of whatever type) you need to cover the film and reel.
In some cases, with quite concentrated chemicals, the amount on the bottom of the tank will have a lot more chemical capacity than the film needs. In other cases, with quite dilute chemicals, the amount on the bottom of the tank will have a lot less chemical capacity than the film needs.
You have to check both the numbers on the bottom, and the capacity recommendations that go with the chemicals. As most colour chemistry is designed to be usable with rotary processing, you probably will be okay, but you need to check.
There are tricks to putting two 120 films on to the same Paterson reel. In essence, you need to take steps to stop one film from moving to overlap with the other. The tape at the end of one roll is used to attach to the other.