Duff-Man says...NO. OS X is a *single computer* license, not single user. If you want the OS for both your computers you should be purchasing the "family pack" license....oh yeah!
Unless you were buying a multi-seat license for $120 you can't do it. If it is a multi-seat then tell me where I can get it for $120. The typical retail box is for 1 installation on 1 Mac.