TM,
Peruse a few accident reports and you will see that multiple failures do occur and the pilot who can assess and prioritise the the handling of the malfunctions survives.
The simulator is the only place to recreate these.The ability to prioritise malfunctions is an integral part of pilot training.Enjoy!
Shedding a tyre tread can result in ingestion and engine failure - not an unrelated failure.
Not all checklist items or malfunctions are categorised as an "emergency".
Have look at Sioux city etc etc. for examples of pilot skill that you can aspire to.