The cake may be spurious, or even a lie.
BigRat's breakdown is really it in a nutshell. Nicely put.
As was stated before, the ideal is to keep them both on the same side of you whenever possible, that way you only have to solve for 1 set of angles. To me, that's treating the many as one, although there might be some 'universal consciousness' meaning there, I'm not going to delve into that particular philosophical bent.
The alternative is to be avoiding them in such a way that have no shot when they make their passes, but I can't begin to describe how to do that beyond 'aim your defensive moves to put you in a better offensive position on the second bandit'. The good thing about the main arena is, most of the time you're being attacked by multiple guys who aren't coordinating that well so it makes it somewhat easier to keep them bunched up a lot of the time.
The one that's going to be difficult to defend against is the guy that breaks off high when he sees you're covered by his buddies, and starts cutting the corner of the direction you're headed. He's probably setting up for a fast pass while the other guys try to keep you turning and low E.
Fighting outnumbered is pretty much the hardest thing to do in the game. The slower you get, the harder it gets. When I'm working a crowd, I keep it fast for as long as possible. Turnfighting is suicide if there's more than 2 of them, for me. I've had a couple of successful runs in 4 years where I was able to survive for a while against 4 or 5 guys actively trying to kill me when I was slow, but I attribute most of that to luck and poor planning on their part than my own mad skills.
The only other thing I think is worth mentioning, is if the bandit that's within 400 yards in front of you hasn't maneuvered significantly for a second or two, check six as you're most likely about to be shot by his buddy.
Wiley.