Hi,
I have worked on many similar project in the near past. Probably this what you want is possible but I need more information about this project especially more explanation about this part "I want to take and map an image from folder #1 and perform some work on that with each of the multiple images in folder#2.". What exactly work do you need ? I suppose you want to combine whole or parts of the images from these folders but can you please be more specific?
Generally I usually use Javascript for this, it run in back so it will be good for speed. I will send you detail explanation how to use that javascript file and how to made some changes in the code if you want to do that. I assume that you already have experience with this kind of work. And if you are not do not worry you only need to upload javascript in Photoshop and I run and for that u need a few seconds and couple of mouse clicks, after that script will run and u can do something more creative..
I have an experience of over seven years of work in JavaScript associated with Adobe app, Photoshop, Illustrator, InDesign, Acrobate, Adobe Lightroom, Presentations, Microsoft Office(PowerPoint,..),also, Python, Perl ... I am a very dedicated and diligent, so you can expect top quality.
Best regards,
Bojan