Can I run multiple ads at one time?

Yes!

Within a campaign, you can create multiple ads of the same type.

In our system, ads within the same campaign share targeting information (location, keyword, and audience). If you want an ad to be targeted to a different audience or location, you should put it in a different campaign.

NOTE - If you are creating multiple ads and want to see analytics separately, put each ad in a separate campaigns
Analytics in our dashboard are currently aggregated and displayed at the campaign level
That is, if you have 3 display ads within one campaign, the results you see in your dashboard are a combination of those results.