So, the answer to your question is that while it is recommended that you never reuse keys for different algorithms, it is quite unlikely that different hashes in HMAC would interact badly.
However, that does not mean what you are planning is the way to go. It makes little sense to change the strength of the authentication based on the length of the message, unless the message length directly correlates with the security level you expect. And even if that is something you want, there is no real advantage to using different HMAC hashes.
Instead, you should pick either SHA-256 or SHA-512 and use only that hash for HMAC. You can truncate the authentication tag to the desired length, which can vary with message length. However, you must make sure an attacker cannot simply use a shorter tag in all situations. And it is not really required, since even a 64-bit tag is usually considered sufficient. So you should likely just pick one length you are comfortable with.
Oh, and a 128-byte key is overkill. 256 bits is sufficient.