Totally do-able! I went around Jaipur and did a superfast sightseeing in a day's time. Of course l had to prioritise! Two days would have been more comfortable, though. Must Do's: 1. Amer Fort (If uou can manage to include the light n sound show in the eve as well, nothing like it!)
2. City Palace - is a sprawling museum. Can take up a lot of time if museums are your thing. So, plan accordingly.
3. Jal Mahal - I had to see it from a distance but 2 days is good enough time to visit this one.
4. Hawa Mahal - The rooftop cafe right across the street is a great viewing point. And right below is the market area for some memento shopping. Try out local Rajasthani cuisine - dal bati churma and ghewar in case you haven't ever had it earlier. Also, pretty much every place in Jaipur is easily reachable by local commute. So that's easy on the pocket. Hope this helps!