Is it possible to separate the flat from the point prior to smoking whole brisket without messing either piece up? I have a limited time to cook before an event and I'm thinking if this would work, I could smoke the point for burnt ends on a different smoker at a hotter temperature.
This is indeed possible and not really hard to do. Just look up some tutorial videos on youtube to see where to cut.
Be careful with the reduced cooking time, though. Brisket needs it's time to denaturate/melt the fat and collagens. Maybe pre-cook it sous-vide for a few hours if you have limited time on the smoker.