I want to make a pumpkin and chocolate chip layer cake for thanksgiving, but I've ben unable to find a good recipe online. I've either found pumpkin layer cakes, or pumpkin and chocolate chip bundt cakes. 

Would it be better for me to use the pumpkin cake recipes and add chocolate chips to the batter, or use the pumpkin chocolate chip bundt cake recipe and use a layer pan instead of a bundt pan. 

What are the possible consequences for doing either?

Bunds cakes are typically heartier than a "normal" cake, but it would work in a round pan. If you're looking for something simple you can buy your favorite vanilla box cake and mix the dry with a 14-16oz can of pumpkin, add pumpkin pie spice and chocolate chips and it comes out pretty good. 

You certainly can use a pumpkin cake recipe and add choco chips w/o a problem.  The choice is yours as to using the bundt recipe or adding chips to any other.