This is one of the DM's ultimate fantasies: a complex world of player characters plotting against each other. Looks good in concept, pretty hard (IMO) to pull off for several reasons.
1) Are you going to be able to find enough players? Will they all be consistent? What if you have players who what to be in both "campaigns?"
2) What prevents players from discussing what is going on in their respected "campaigns" that might tip off the others? Will the two groups be aware of the other?
3) Can you sustain the separation between the two groups? If actions are happening simultaneously or interconnected, what are the odds the two groups will meet each other premature to any actual planned encounter?
4) Can you get the two groups together when you need to?
A twist you can try to have one group in a timeline different from the other. Events that happen in one group effect the other over time so they are not as dramatic and reactionary. In the latter case, the same group of players can actually play the game.
But I'm sure their someone waiting to brag about what they have done