You can use Approach 1 without worrying about instant-cache.
Each weak form is compiled in a different folder using a unique folder and filename.
Just type:
nohup python script1.py >& script1.out &
nohup python script2.py >& script2.out &
nohup will keep your process running in the background even if you close the terminal.
>& will redirect both standard output and standard error to the file script.out.
*& at the end will allow you to continue using the same terminal window while the process is running.
To check the progress of your script you can use
tail -f script1.out