Here is how I wanted to connect, the hose runs from my compressor which has the comtrolled pressure outlet.

I read some people put two traps in the line & right before the gun, so though for small single jobs would use a disposable one aswell.

Is this setup safe? The two filters can connect directly.

thanks.

I don't see the advantage here.... but I do see a lot of restriction. Most moisture elimination needs to be done before it hits the final hose. Because of how you are set-up you feel you need that much moisture protection you'd be better off with a "snake" style eliminator before going into the gun.
Here's an example....
http://www.autobodytoolmart.com/devilbi ... 14433.aspx

when i was a newbie learning i used to use the devilbiss wirlwind filter {similar to your red one} with good results, previous to that i tryed the same one you have there {before red one} which did absolutley nothing by the way,
as said above ^ filtration needs to be done before the hose! just imagine if them filters did there job then you would have a hose full of schet reducing flow/volume and eventually passing through destroying your work and your mental out look on the job, not nice having to sort out contamination, not to mention ruining your hose, all its good for now is air tools, wouldnt want to risk oil and schet ever passing through into paint,

Do a search on airline setup for spraying , if your good at welding you can make desicant filters {using silica gel }and oil filters using industrial filter elements at very little cost , look into something like the devilbiss qc3 , you might think its expensive but it pays for itself..

i had to deal with this the hard way just a few months ago when i first started a painting project.

not knowing any better we had a hose coming off the compressor with those harbor freight oil/water seperator and the bulb before the gun. for whatever reason i go through the primer stages fine, even my epoxy was laying on ok as a sealer.

then i tried paint, then another brand of paint and actually was having ok results looking back as far as orange peel but i was getting a few fisheyes on my test sunroof panel. i repainted this numerous times before reading up on how to setup the air.

i should have known i was in trouble because water had nowhere to go in the lines and for example i could run the da sander for just a few compressor cycles and air would spit on my panels. i couldn't even use air to blow off things because of this.

it was me trying to save money on the initial tools, etc. i bought for a project. but i have quickly learned the right tools for the job are really needed and will save you time and money later.

anyway we ended up making a larger run of zig zags on the wall for almost 50 feet with multiple low drains. each of these drains collects water as well as tank.

then i got a namebrand triple stage filter with regulator and put a toilet bowl filter just in case. then i take a 25 ft. hose off that hub for painting in garage area. I ONLY use this hose for painting just in case the regular air hoses with their oils might have a chance of contamination.

i have not got a bubble of water on the tool side since we did this. i now go about my business and use the tools based on need rather than water holding me back.

what i was surprised at is how i can regulate the pressure at my filtering so well vs. the extreme drop i was getting with those inline harbor freight filters.

Compressor build heat in the air and you get moist vapor, when that vapor cools you get water, water separator connected to the compressor are good for air tools ,painting is done with lower pressure with less volume, the air has a lot more time to cool in the hose then all at once BAM, a big slug of water comes out to ruin your day.
Get (2) air hoses. 1st hose goes to the compressor, then but a water separator in and connect the 2nd hose to your gun, check separator after every coat and drain . you will be surprise how much water comes out.
PS
a cinder block works great to hold up separator

If you want to save money, you can invest in 1" copper lines for your shop and run a decent dual stage setup for filtration.

An expensive 3-stage or refrigeration setup can cost $300+...and still requires proper plumbing to operate correctly.

I have about $120 in 1" copper and fittings, solder, etc. About $100 into filters. I have a 1/2" Harbor Freight $30 huge trap into a Parker 1/2" trap.

Design your system with at least 20 feet of copper on a upwards slope, with drops at your compressor and at the end of your 20 foot run. I use 4 foot drops on an 8 tall foot wall. Put drains (valves) at the end of each drop and drain before each use.
Tee your filtration into your last drop about 1 foot up from the end, with a drain at the bottom of the leg.

You will get the volume you need, even for air tools, and the filtration will work better by having nice cool air allowing the water to drop out of suspension. (less vapor)