I have a HYDRA team that has Johann Schmitt on it. I have redskull in the middle of two hydra agents. Since Schmitt gives them all SHIELD TA, and they all have HYDRA TA, could i drop the defense and increase range(and dmg) at the same time or would i have to choose one? Id imagine that i could use both seeing as HYDRA isnt an action and SHIELD is a free action(power for damage) but im not sure on the ruling for using more than 1 TA at the same time

In short, yes, you can use all three bonuses.

The SHIELD team ability has two parts (Increase Range, and Increase Damage). The 1st part is passive, so as long as a character is next to someone with the SHIELD TA, their range is +1 automatically (it used to be a free action, but not anymore). There's nothing preventing the SHIELD TA character from doing a power action to bump up damage +1 (the 2nd part of SHIELD TA) as long as it's not in the middle of an ongoing action (like Running Shot, Hypersonic, etc...). The HYDRA TA is also passive, so there are no actions involved in reducing the targets' defense value, as long as the criteria are met.

The bonuses are also cumulative, so you can bump up range/damage and opponents' defense values up to the +/-3 rule.

Johann Schmidt is a nasty customer ........ as one would expect.