Indeed that is why we have the targets. You can have a dev target and live target.
You can have the connections named exactly the same.
Currently when you edit the connections those get directly uploaded to the current target. So that makes editing a bit difficult. I think we should improve that by keeping separate connections per target also locally. So when you edit the connection you edit it only for the current target.
When switching targets the connection then should auto switch.
Will that fits your workflow?