Yes, but I usually do it in the reverse order.
Also, remember to use the correct wire gauge for your breaker size.
If you're running two circuits and the outlets will be next to each other, I would use two 20 amp breakers and run a single length of 12-3 wire to the outlets. That way, you'll be able to run both circuits through the same wire.
If the outlets aren't adjacent to one another, use two lengths of 12-2 wire: one to each outlet.