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In this paper, we review the linear and non-linear dynamics of an optomechanical system made of a two-membrane etalon in a high-finesse Fabry–Pérot cavity. This two-membrane setup has the capacity to modify on demand the single-photon optomechanical coupling, and in the linearized interaction regime to cool simultaneously two mechanical oscillators. It is a promising platform for realizing cavity optomechanics with multiple resonators. In the non-linear regime, an analytical approach based on slowly varying amplitude equations allows us to derive a consistent and full characterization of the non-linear displacement detection, enabling a truthful detection of membrane displacements much above the usual linear sensing limited by the cavity linewidth. Such a high quality system also shows a pre-synchronization regime.