SNMP over UDP, the default setup, is connectionless to begin with. The PHP functions do not provide a means of generating a "handle" that can be reused; typically, you would create your own wrapper if you wanted this functionality.
Note, however, that PHP 5.4 introduced the "SNMP" class (see the documentation here), which would allow you to do exactly what you want.
For example:
$session = new SNMP( SNMP::VERSION_2C, "127.0.0.1", "public" );
$value1 = $session->get( ".1.3.6.1.2.1.1.5.0" );
$value2 = $session->get( ".1.3.6.1.2.1.1.6.0" );