Is it ok if I work out 2 hours and 40 minutes everyday?

Now I'm try to lose weight in a healthy way,

From your 1st 2 posts, it's debatable if you understand what losing weight in a healthy way is. First of all, you asked how to lose up to 40 lbs in about 7 weeks, which is not only unhealthy, it's ridiculous. Your 2nd post, you simply ask if it'd be healthy to work out for 2 hrs & 40 mins per day. That's probably debatable, as well.... but, from your 1st post, it can be reasonably 'assumed' that you don't plan on eating those exercise calories back.

If you want honest advice, it's read this:

http://www.myfitnesspal.com/topics/show/1080242-a-guide-to-get-you-started-on-your-path-to-sexypants?hl=sexypants

Then follow it.

I currently weigh 150 and i'm trying to lose 20-40 pounds before my birthday witch is in February 17, unfortunately I am limited to working out.
I can however jog/run/speed walk

What are other good possible ways to lose weight?
and for how long should I work out every day?

http://www.myfitnesspal.com/topics/show/1157876-how-can-i-lose-20-40-pounds-before-february-17
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I was wondering if it's good for your body to work out 1hr and 20 minutes in the mornings
and another hour and 20 minutes in the afternoon or at night.