Gosh can't we have one group translating odd chapters and the other one translating even chapters?
^ Of course, as a reader, that's what I would like to have.
What the translators should do depends on the motivation behind translating the series. If it's to introduce the series and make the readers happy, just divide the work among yourselves so we can get faster release. If it's because you love the series and you want to create high-quality tribute, then do all chapters at your own pace. If it's to practice your translation/scanlation skill, then do whatever you want. Just take note that no matter what you do, there are people who will support you / be against you.