Right now, it's not possible to have your username changed other than by contacting justin via email (support@armorgames.com) and asking him nicely... =)
That is if you can't wait for the new AG3 coming... there (probably) will be an option included to change your username, but this is not certain.
Creating an alt account is not advisable. However, you are allowed to make an alt account for the sole porpuse of playing a multiplayer game with said account. Comment messenger needs to be closed and the account can't be used for online activity on this website through rating, posting and/or commenting.
Following the rules won't have you banned, but straying from them...