A kinetic theory is presented for isothermal homogeneous two-component condensation under dynamic regime with synchronous attainment of the metastability maximum. II is shown that extending the iteration method of treating of one-component condensation under dynamic conditions to the case of two-component theory makes it possible to construct the spectrum of linear sizes and two-dimensional distribution of two-component droplets, a relative degree of accuracy being high enough even at the first iteration step. This method also allows one to find the time dependence of both real supersaturations as well as the total number of droplets formed per unit volume during two-component condensation.