Is anyone successfully running two external displays?
The M1 MBA only supports one external display. The Mac Mini is the only M1 Mac to support two external displays (because it has no internal display).
Docking station is your friend
It’s a limitation with the M1 SOC, not the number of ports you have. Most docking stations won’t help. The only thing that does is DisplayLink, which is proprietary hardware with a software hack that lets you use multiple monitors. Many people recommend against using it for gaming or other demanding applications, but I don’t recall why (probably something related to lag or refresh rate).