two-timing vs cheating

two-timing is not a noun while cheating is a noun.

Word	Noun	Adjective	Verb	Adverb
two-timing	No	Yes	No	No
cheating	Yes	Yes	No	No

As adjectives, two-timing and cheating are synonyms defined as:

Other synonyms of two-timing include adulterous.

two-timing (noun)	cheating (noun)
	a deception for profit to yourself

two-timing (adjective)	cheating (adjective)
not faithful to a spouse or lover	violating accepted standards or rules
	not faithful to a spouse or lover