A spell you cast this way can be the target of a later spell you cast this way. However, permanent spells cast this way won't resolve until you're done casting spells, so the permanents they become can't be the target of spells cast this way. For example, if you exile Twincast and Lightning Strike, you can cast Lightning Strike and then cast Twincast targeting it, but if you exile a creature card and an Aura card, you can't cast that Aura targeting that creature.