Cascading blending options?

Hello,

I'm wondering if it's possible in Photoshop to somehow relate layers such that layer styles propage from one layer to the next? I have a base shape that I need to apply an inner shadow to. I want to apply another inner shadow on top of the first operation.

Currently I'm applying the first shadow effect then merging the resulting layer down into a blank layer. This then sets the effect as permanent and I can now add another inner shadow layer style with different parameters.

The problem with this approach is that I can't dynamically adjust the options of the first shadow without completely recreating the second. It would be really nice if I could just take a blank layer and say "apply the following blending options for this layer to the layer underneath".

Does this make sense? Does anyone know if there's a way to do this?

Thanks!

-v

PS: It seems like there should be an easy way to do this... In Fireworks for example you can just add as many "Live edit" styles to an object/layer that you want, and you can rearrange them in any order. Seems like Photoshop should do this.