Since conscious...of is the standard collocation, yes, you could do so:
... conscious and probably critical of...
But you cannot do so when the preposition is not licensed by the adjective. For example: conscious of and delighted with cannot become conscious and delighted with because conscious with is an unlicensed combination.
P.S. This "sharing" of a preposition tends to occur in writing more than in conversation. It is not a natural way of speaking, and as a result many native speakers bungle it when they write, using unlicensed combinations. I am not an advocate for its use by any means. I would prefer to economize by using a pronoun instead of sharing a preposition:
People will become more conscious of your informal speech and probably critical
of it...