Wirelessly posted (BlackBerry: BlackBerry8530/5.0.0.1030 Profile/MIDP-2.1 Configuration/CLDC-1.1 VendorID/417)
Many FTers have reported getting Citi to issue a credit of $95 to an account, as long as you make at least $95 in new purchases on the card after the annual fee hits.
There's no need to cancel an existing Citi/AA card to apply for a second one. Whether you will get approved for the second card (and its associated bonus) will likely depend on how long ago you applied for the first card. You should be able to find a lot of information about this in the FT Citi forum.
But it's very risky to rely on just AA/BA miles if you're hoping to find two TATL Business Class award seats on the same flights. Star Alliance has far more TATL partners (and seats) than oneworld does.