Let's say that I control Thought Lash and my opponent controls a 2/2 creature with lifelink and a 2/2 creature without lifelink. When the two creatures attack and I activate Thought Lash's ability twice, can I choose to prevent the 2 damage that would be dealt by the creature with lifelink? How does the "prevent the next damage that would be dealt" work, when creatures deal damage at the same time?
You get to choose which damage is prevented. Here is the applicable rule:
615.7. Some prevention effects generated by the resolution of a spell or ability refer to a specific amount of damage--for example, "Prevent the next 3 damage that would be dealt to any target this turn." These work like shields. Each 1 damage that would be dealt to the "shielded" permanent or player is prevented. Preventing 1 damage reduces the remaining shield by 1. If damage would be dealt to the shielded permanent or player by two or more applicable sources at the same time, the player or the controller of the permanent chooses which damage the shield prevents. Once the shield has been reduced to 0, any remaining damage is dealt normally. Such effects count only the amount of damage; the number of events or sources dealing it doesn't matter.
Thought Lash Rules