Is it possible to run multiple time machines on one computer?

[tgreena]

I have three drives, one SSD and two HDDs. The SSD and one of the HDD are in my MBP and the third is my time capsule router.

Effectively what I want to happen is this: I've partitioned the 1TB HDD in my pro to have a 140GB partition so my SSD will backup to that 140GB all the time because it is inside the same computer. The rest of the 1TB I want to use as media and storage on my pro. And what I want to go to my time capsule is the whole 1TB HDD without the SSD (because the SSD will be backed up onto that 1TB HDD).

So basically I would need two time machines running, one would be all the time backing up my SSD to my HDD in my pro. One would back up when I am on my network from my HDD in my pro to my time capsule.

Is this possible?
I am on Mountain Lion