Hey!
I wanna lose weight & gain some muscle, is it possible 2 do both @ the same time? Or what should I be doing first?

Of course it's possible to both at the same time..

Just make sure that while you do the heavy workouts (weights) to build muscle you keep your calories below the level necessary for you to lose weight...that will pare off the fat. Don't stint on your protein though. While working the weights probably 80-100 grams should be viewed as a bare minimum.