vinyl over vinyl?

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Hey guys, I am a paper hanger, painter by trade but my wife wants a new floor in the basement and I have a question or two. The existing floor is 9 by 9 inch tile(old from the 40's, I would guess, so no doubt asbestos)I did the laundry room area by removing the old tile which came up fairly easily( except for the black glue) and replaced with ceramic, but it is kind of thick and would be expensive to replace the entire basement with. I was wondering about the self stick tile I saw at Blows. Could I just put this on top of the existing or as with wallpaper is it better to remove to old tile? Would regular tile be better?I know the floor has to be almost perfectly smooth for tile as I did my kitchen and ANY piece of crud shows through, that is why I was thinking about going over the existing. Also, just to add , this room CAN get flooded ,it has only happened once in 25 years but I am thinking that this would eliminate ANY type wood product. Any ideas or tips are welcome, thanks.

Chris