can we use one argument for two contextual filters can we use one argument for two contextual filters OR
can we create and pass dynamic argument from one filter to another by using validation php code in first one?

drupal7.com/location-map/region-or-type-field-here

i want to use contextual filter for region and type fields for same argument.
You should be able to set "WHEN THE FILTER VALUE IS NOT AVAILABLE" on the contextual filter to "Provide Default Value" and set "Type" to "Raw value from URL" and set the Path component, in case of example provided in your question, Path component 0 is location-map and Path component 1 is region-or-type-field-here