If your two page spread has no floats, then you can simply store the content in a box, and split the box into two.
% The default layout
\setuplayout[cutspace=1in, backspace=1in, width=middle]
% The layout for left and right page. ConTeXt treats cutspace=0pt as a signal
% to set cutspace=backspace. So, I use cutspace=1sp (the smallest non-zero
% space in TeX.
\definelayout[leftpage] [cutspace=1sp, backspace=1in, width=middle]
\definelayout[rightpage][cutspace=1in, backspace=1sp, width=middle]
% A box to store the content
\newbox\twopagebox
% A frame to typeset the content.
\defineframed
[twopageframe]
[
width=\the\dimexpr2\paperwidth-2\backspace,
height=\textheight,
align=normal,
frame=off,
]
% An environment to gather the data, typeset it in a box, and then split
% the box.
%
% A buffer is not needed here, as we can directly typeset the material in
% a box.
\unexpanded\def\starttwopagemakeup
{\grabbufferdata[twopagebuffer][starttwopagemakeup][stoptwopagemakeup]}
\unexpanded\def\stoptwopagemakeup
{\setbox\twopagebox\hbox{\twopageframe{\getbuffer[twopagebuffer]}}%
\page[right]%
\setuplayout[leftpage]%
\clip[nx=2, ny=1, x=1]{\copy\twopagebox}%
\page
\setuplayout[rightpage]%
\clip[nx=2, ny=1, x=2]{\copy\twopagebox}%
\page
\setuplayout[reset]}
\setupbackgrounds[page][frame=on, framecolor=red]
% To visualize the page border
\starttext
\dorecurse{6}{\input knuth \endgraf}
\starttwopagemakeup
\chapter {Two page data}
\dorecurse{6}{\input knuth \endgraf}
\stoptwopagemakeup
\dorecurse{6}{\input knuth \endgraf}
\stoptext
which gives

Note I have deliberately included space between the pages when combining the pages together to show the image here.
This solution only works for a single page. If you want support for multiple pages, then you need to store the content as a \vbox and keep \vspliting it until no material is left. For example,
% The default layout
\setuplayout[cutspace=1in, backspace=1in, width=middle]
% The layout for left and right page. ConTeXt treats cutspace=0pt as a signal
% to set cutspace=backspace. So, I use cutspace=1sp (the smallest non-zero
% space in TeX.
\definelayout[leftpage] [cutspace=1sp, backspace=1in, width=middle]
\definelayout[rightpage][cutspace=1in, backspace=1sp, width=middle]
% A box to store the content
\newbox\twopagebox
\newbox\contentbox
\unprotect
% An environment to gather the data, typeset it in a box, and then split
% the box.
\unexpanded\def\starttwopagemakeup
{\setbox\contentbox\vbox\bgroup
\hsize\the\dimexpr2\paperwidth-2\backspace\relax}
\unexpanded\def\stoptwopagemakeup
{\egroup
\typeset_all_pages}
\def\typeset_all_pages
{\ifvoid\contentbox
% Done
\else\ifdim\ht\contentbox>\textheight
\setbox\twopagebox\vsplit\contentbox to \textheight
\typeset_one_page\twopagebox
\typeset_all_pages
\else
\typeset_one_page\contentbox
\fi
\fi}
\def\typeset_one_page#1% box
{\page[right]%
\setuplayout[leftpage]%
\clip[nx=2, ny=1, x=1]{\copy#1}%
\page
\setuplayout[rightpage]%
\clip[nx=2, ny=1, x=2]{\copy#1}%
\page
\setuplayout[reset]}
\protect
\setupbackgrounds[page][frame=on, framecolor=red]
% To visualize the page border
\setuphead[chapter][page=] % Otherwise we get an extra page
\starttext
\starttwopagemakeup
\chapter{One}
\dorecurse{12}{\input knuth \relax}
\stoptwopagemakeup
\chapter{Normal Text}
\dorecurse{12}{\input ward \endgraf}
\stoptext
This uses low-level TeX (as splitting pages is effectively equal to writing an output routine). See TeX by Topic for details.