Conceptually I think it could, but I have not tried something like that. The MBoosts have some inputs that control their power output switches (mosfets).
You are limited by the amount of IO a Moteino has, but it depends if you use them with radios or not, that gives you an additional 4 IOs. Your second MBoost could simply just control the output, then you have to add one control pin to the MBoost sketch for it, and when power is cut, notify both MBoosts, perhaps that's very simplistically explained but I don't see a lot more than that.
Depending on what the real power demands and requirements/constraints I would weigh what's the easiest and more feasible option before going with a complex setup like that.