In a sense, that's what I'm doing.
That step where I "multiply by 0.999999" has essentially the same effect. Basically, I identify a scale factor using my project elevation. Then I multiply by 0.999999 to drop the center of the projection a little bit below ground level, creating essentially the same thing as a double-parallel system. It's just easier to identify the parameters using a single-parallel Lambert system and scale factor, so that's what I typically do. And in my experience so far, it also seems to be the most common choice in general among people who are using LDPs, probably because it is so simple. That is, unless you are trying to align your LDP to a road or a river. In that case, you may want to use a transverse or oblique Mercator instead.
The two-parallel system is pretty much the same thing, except you pick your parallels directly. In that case, it just helps to keep in mind the general rules of thumb for distortion. Here's the max separation between parallels to maintain a given accuracy:
1:10,000 = 1°37' (0.9999)
1:100,000 = 0°31' (0.99999)
1:500,000 = 0°14' (0.999998)
1:1,000,000 = 0°10' (0.999999)
The number in parentheses is that additional scale factor used to drop a single-parallel system, and indicates the equivalent value to achieve similar accuracies when using that method.
-- Sinc
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Sinc