When you have a complete engine failure in a single engine aircraft you know your only option is to go down, but in a twin-engine aircraft it's not quite that simple.  This is why flight school's emphasize the importance of single engine operations during your training, because so many pilots take that second engine for granted and forget that if handled poorly, the results could be disastrous.  On a less serious note, multi-engine flying can be the most exhilarating rush you've ever experienced in your life, and leave you with a great feeling of accomplishment.

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Your flight training solely depends on the flight school you attend, each school is different in the amount of time they require and the training you'll receive.  It's sometimes scary to think there are pilot's out there who get there multi-engine rating in as little as 3 hrs, but that statistic is becoming more and more common.  In our world growing world with the thought of "faster is better" , more schools offer fast-track programs to get your multi-engine rating, and what you as a potential student must do is research the schools training syllabus and determine what is best for you.  But even if a school offers a fast paced training program, you can be guaranteed that every school will include single engine operations in their training syllabus.