I'm still trying to wrap my head around the idea of having UV's dedicated to tiling textures share the same 0 to 1 space as UV's that will be textured the regular way through a diffuse texture. The diffuse texture would have a lot of empty space if that were the case no?
the Wiki is your friend: http://wiki.polycount.com/AmbientOcclusionVertexColor as for UDK, yeah you'd need to muck around with the material editor and load up your second uv set, assign both diff & AO textures, and multiply the two before piping them into the diffuse slot (from the top of my head)
Did you try googling something like "Ambient Occlusion Vertex Maya"? Can probably find a written tutorial or one on youtube about it. The AO from a 2nd uv set can still be applied as multiply onto your model that gets diffuse from tiling uv set. You just need to do this with your shader setup.
I typically like to bake out an AO map via Batch Bake (Occlusion) in Maya to have something I can Multiply layer on top of my diffuse texture in Photoshop as a means of adding in detail. I guess I'd need to figure out a way to see if I can retain this method through the usage of a secondary UV set. Although, not sure how…
Its really up to you what works best in your situation and what your chosen engine can do, if it can handle realtime AO then you don't need to bother about the extra uv set/unwrap for an AO map, likewise if you bake AO into vertex colour, however as mentioned above the quality of that type of AO may not be what you are…