NYCNaiad
Dive babble all day long
It's safe as long as the receiver and donor maintain enough gas to surface both of them safely should either system fail. (Rock bottom)
I often extend my wife's dives as I dive two tanks and with her back she can only dive one. So we each get one and a half tanks out of it...
When I've seen this done, it's occurred when the receiver had little to no air left. In your case, it seems reasonable because both you & your wife are taking precautions to maintain enough gas. But if a DM was doing this with my dive buddy, I wouldn't have any faith that they were also taking the same precautions.