Battery operated clamp for current should be OK for channel 2.
Vds measurement depends. You want the voltage across drain and source. IF the circuit under test is powered by a grounded supply, and neither drain nor the source are grounded, then you don't have a safe place for the ground clip of your first channel.
You could measure drain to ground OR source to ground, but not drain to source.
If either source or drain are grounded, then you are good ( clip the ground lead to the grounded terminal ). Or if the circuit itself is powered from a floating supply ( i.e. lab supply where negative is not dedicated to ground, or a battery ).