Multiple Storage locations possible?

If I'm understanding correctly, you want two different locations for the same camera: one for movies and the other for images? That's not a built-in feature: all files for a particular camera will be saved to the one location that has been set for that camera.

One solution here would be to create an AppleScript called ProcessCapturedFile that moves the files to the right place. Use Script Editor to create the script, and save it to ~/SecuritySpy (i.e. the SecuritySpy folder within your Home folder). Upon completion of any file, SecuritySpy will invoke this script. The following should do it, which you can copy-paste into Script Editor:

property dstPath : "/Path/To/Dst"

on run args
	set cameraNum to item 1 of args
	set cameraName to item 2 of args
	set filePath to item 3 of args
	
	if filePath ends with ".jpg" then
		do shell script "mv " & quoted form of filePath & " " & quoted form of dstPath
	end if
end run

The items cameraNum and cameraName are unused here but I've left them in, in case you want to use them for something.

In that case it's even easier - you don't have to use a script - simply set each camera to record to the required destination using the camera-specific storage location setting under Settings > Cameras > Setup.