The Ebay offer doesn't really say which MOSFETs are used and how the circuit works, so not really sure how well this module would work. But for $1.33 there is not much to lose anyway...
What kind of current do you want to measure? (AC/DC)
What Voltages are to be expected?
Of course, you can do it with parallel shunts.
But there are some risks for the connected devices, you need to take care of.
If the current/voltage on the shunt resistor rises very quickly, the uC could be too slow to switch the second, low value, resistor and the adc is fried.
The same applies if the uC is off.
You should protect it via a high value series resistor at the ADC input. You could also add some clamping diodes, just to be sure (The ADC should already have internal ones, I didn't check if they would do the job on their own).
The precision also could be an issue.
Depending on the leakage current of the MOSFETs, the lower current range could be off for low currents.
This may or may not be a problem for your application.