The hitch being how do you work that in terms of turns? You would have to essentially have the throw happen on one player's turn and the catch happen on the other's. This kind of issue also comes up with any other sort of situation (usually stunts) where two characters attempt to do something requiring action from each of them.
One of the PCs would just have to delay.

(Dungeons & Dragons)
Rulebook featuring "high magic" options, including a host of new spells.