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Well, there are a number of dual-LED PS/3 diesels, so I'm sure it can handle it. My sense would be in parallel, but I'm not 100% sure, and I don't have one open right now to look.
I just found out in this thread, the LED's are in parallel.
From the looks of the wiring, the PS/3 boards have the current limiting built-in. The wiring diagrams for steamers show direct connections from the lights. I don't believe any extra resistors are required.
current limiting resistors are built in where LED are connected to output. That includes Ps-2 boards. G
However, don't connect to the incandescent outputs of PS/2 unless you provide current limiting. 
SMD LED's have the same power characteristics as the leaded ones, 20ma max and about 3V operating voltage. If a standard LED will work there, so will the SMD ones.
