Hi,
Virtual Chassis is for single management for your EX4200 Switches.
On upgrading the software, all you need to do is to upgrade the master chassis (RE) and issue the command
"request system software add <file> reboot"
Check for the procedure here:
http://kb.juniper.net/InfoCenter/index?page=content&id=KB10840&smlogin=true
Is a chasi best used for independant devices rather than a device with two nics for redundancy?
I encountered different devices connecting to Virtual Chassis, not yet with redundant NIC.