How to set up multiple PATHs in the user bash_profile in OSX 10.8?
Yes, it is perfectly possible to have both statements coexist happily in .bash_profile. This file is evaluated sequentially from top to bottom, and the same environment variable ($PATH in this case) can be modified multiple times. If you wish, you can edit both into a single command:

export PATH="/Library/Frameworks/Python.framework/Versions/3.3/bin:${PATH}:/Development/android-sdk-macosx/platform-tools:/Development/android-sdk-macosx/tools"

to do both modifications at the same time, but this is no different from your current setup. Happy Pythoning!