[Typo3] multiple domains

[Christoph Koehler]

Hey everyone,

I would like to manage two sites with TYPO3, on one host. So I have one  
domain plus host, and another domain plus host. I Was thinking about  
having the 2nd host redirect the domain to my 1st hosts nameservers, then  
add a parked domain or addon domain (which one?) and let typo3 handle the  
rest.
Now, I have never done this and I would hate to mess stuff up, especially  
canceling one host completely.
Typo3 is in a sub dir of my 1st host.

What do I have to do to make it work? Is it common practice to tell one  
host to transfer a domain over to another host, how does that work, what  
experiences do you guys have, etc.

I am a little bit nervous, so any suggestions are very well appreciated!!

Christoph