You can certainly copy the mdAdmin app folder and try it. It's worth noting that if you do this you are creating your own custom app and you are entirely responsible for all upgrades to it in the future and we wont be able to provide much support.
If you want to try it here are some details. You will need to change the local storage prefix on at least one of the apps for the auto logins to work independently.
At the start of app.js:
var mdCopyBootstrap = angular.module('mdCopyBootstrap', ['maServices']);
mdCopyBootstrap.config(['localStorageServiceProvider', function(localStorageServiceProvider) {
localStorageServiceProvider.setPrefix('betaApplication');
}]);
var mdAdminApp = angular.module('mdAdminApp', [
'oc.lazyLoad',
'ui.router',
'ui.sortable',
'angular-loading-bar',
'maMaterialDashboards',
'maAppComponents',
'ngMessages',
'mdCopyBootstrap' // <-- add this
]);
Toward the end of app.js, change maServices
to mdCopyBootstrap
var servicesInjector = angular.injector(['mdCopyBootstrap'], true);
In order to get independent pages and menus you will also need to change these constants at the top
.constant('CUSTOM_USER_MENU_XID', 'beta-app-custom-user-menu')
.constant('CUSTOM_USER_PAGES_XID', 'beta-app-custom-user-pages')
And change this reference at the bottom
var userMenuPromise = JsonStore.get({xid: 'beta-app-custom-user-menu'}).$promise.then(null, angular.noop);