This is one aspect of TM that gets on my nerves. TM only knows how to deal with one drive at a time. Being a cautious sort of guy, I wish TM would make multiple backups across multiple drives, ie a local backup on a FW drive and a network backup to a TC or other NAS drive. No such luck. TM will use one at a time. I suppose what you could do is set TM up to back up to a certain USB drive and whenever you plug it in, TM will start spinning. You can then plug in a different drive and set TM up to use that one. I seem to recall that when you plug the first one back in again, it asks you if you can to use it for backups. This saves you manually switching in system preferences but you are still only using one at any given time.