Yes you could cut the Y out and have a two-stemmed clone. I'd recommend taking some of the big fan leaves off the clone (lower ones) as the clone will have no roots and will transpire what liquid it has in it very quickly through big leaves. Clones don't need a lot of leaf area while they're trying to create roots, so I chop off all the big fan leaves when taking a clone and prune the lower side shoots as well, leaving a umbrella-looking plant. Once it has roots, I can re-pot it lower down covering some of the long-ish stem. Happy Cloning!