Yes, Elite allows TWO things to be bound to each function in the bindings menus. Any combination of keys/joystick buttons/controller buttons.
In addition to this there are multiple ways to control thrust. You use analogue axis to set absolute throttle values, set various preset throttle values (0%/100%/75% etc.) on button presses. Look under "Flight Throttle" in the keybindings. You can also have two different. You can use more than one of those thrust methods simultaneously. For example I use absolute analogue throttle sometimes, joystick buttons for 100%/0%/75%, and separate thrusters in various situations. It's very versatile (albeit confusing until you figure out what works for you)
Assuming that you are looking that targeting an opponent, there are keybinds will that do various typrs of target. For example, there is one for target ahead, another for target highest threat etc. My recommendation would be to use VA to activate those (as opposed to interrupting your flight controls). For example I have a simple "Target highest threat" VA command that simply presses that key. If I get interdicted, I continue to manoeuvre as normal and just say"target highest threat.