I don't think that having two FPGAs interconnected is a terrible idea. Connect them over SPI or a parallel bus or whatever works. If my goal is to have a library of de/modulators for various analog and digital radio modes I think it'd be ideal to have the slaved FPGA available to load up whichever bitstream is called for at the time rather than trying to fit all possible de/modulators on a single FPGA.
This can be done with a single FPGA as well. You probably can do partial re-configuration to alter the design at run time, or you can have multiple configuration, or you can completely configure the entire FPGA from the PC with whatever bitstream you need.