Can you run IntelliJ in parallel?
Most of my work is in PHP and I'd prefer to stick with PhpStorm but now there's a side job opportunity with Elixir and I am thinking it could be great to run IntelliJ with the Elixir plugin ... but can you run both the same time?
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Yes, sure thing, if you have licenses for both, why not.
But you could save some money by paying for IDEA Ultimate only because it has everything PhpStorm has to offer.
Also, from what I can see, the Elixir plugin is available for PhpStorm too: https://plugins.jetbrains.com/plugin/7522-elixir
Yes but PhpStorm is always PHP oriented with advantages and disadvantages. There seems to be an IntelliJ Community Edition which would provide a "clean slate".