Assuming you’re talking about DVD-Video, not some sort of another compression format that were burn as files on DVD, then the answer is yes, you can export 122 minutes video them to DVD-DL (dual layer).
The procedure a little bit different from common DVD single layer burn. You need to build DVD-Video folder, then edit them using PGC-Edit. Oh, and you need imgburn, since imgburn can read layer break information properly.
If you want to push 122 min to single layer dvd, the only option is push the bitrate down, and i can tell you it looks ugly.
Do note however, not every DVD player can read DVD-DL. Many old DVD player can’t read the second layer.
Oh one more thing, if you want to use DVD-DL, make sure it was DVD+R, don’t use DVD-R.
——————————————
Sorry for the english, not native speaker.