I'm not 100% sure I have the right end of the stick here. This code will check 4 keys at once and respond appropriately.
do
cls
if keystate(16)=1
text 0,0,"q"
ENDIF
if keystate(17)=1
text 0,20,"w"
ENDIF
if keystate(24)=1
text 0,40,"o"
ENDIF
if keystate(25)=1
text 0,60,"p"
ENDIF
sync
loop
I am pretty certain you could use it to move sprites just as easily for 2 player action. You will have a problem if more than 5 keys are pressed however, as most keyboards are limited to how many keys you can depress at the same time. You may have more luck using the keystate value of the appropriate keys rather than the up/downkey commands when dealing with multiple inputs.
http://s6.bitefight.org/c.php?uid=103081