yes you can apply. But understand, your asylum case gets frozen till you are on TPS. Meaning, lets say that your TPS expires after 1 year year, then, till that time (1 year), your asylum case gets frozen. Nothing happens on your asylum case. Even if you have any interview scheduled, any court date scheduled, all gets frozen. Those dates get cancelled, and you have to wait till your TPS expires to again get another date. Meaning, your asylum gets prolonged.
Talk to an immigration attorney before you decide filing TPS in the context that you have asylum case pending.