Does this mean that 1 player rolls the dice and takes all the consequences and after that the second player is rolling his/her dice and takes the consequences out of the remaining dice?!
Player 1 rolls, removes shields, then takes consequences.
Player 2 rolls, removes shields, then takes consequences.
The shields are NOT reset between rolls, so player 2 is likely to take less of a hit (assuming player 1 actually removes some shields.)