Hello Priya,

You would not be able to add a single token for multiple emails.  A single token counts as one recipient so forms will identify the first email address in the token and that will be the recipient; however, you can add multiple tokens with one email each.

Additionally, if you want the approval process to occur in forms then everyone on the email list would need to be a licensed user to interact with the approval form.  In that case, I would highly recommend utilizing groups to dynamically manage your email activity instead of token values if possible.

On the other hand, if the approval process does not need to be in forms, I would recommend using workflow to break up the emails and utilizing a list field for the approval step.