Alternate sets on one station
One person works while the other rests, then swap. This keeps you both moving and naturally times your 2 to 3 minute rests instead of stretching them into chatting.
Alternate sets on the same station and match on exercises you both do, so their rest is your work time.
The trick is to work in with your friend rather than watch them lift. Alternate sets on a shared bench or rack so while one presses, the other rests, which actually keeps rest periods tight. Pick exercises you both do at similar loads, and use adjustable dumbbells or plates that swap fast between sets.
One person works while the other rests, then swap. This keeps you both moving and naturally times your 2 to 3 minute rests instead of stretching them into chatting.
Do your shared compounds together, then peel off to your own accessories. You get the social push on the big lifts without forcing identical curl weights.
Pick dumbbells or a rack where swapping plates takes seconds, so the transition between two people does not kill your pace.
Alternate sets on the same station and match on exercises you both do, so their rest is your work time.