The capability of two-tone frequency-modulation spectroscopy (TTFMS) in deriving spectral line-shape information was investigated. Two oxygen A-band transitions at 760 nm were selected, and the Voigt profile and two different collisionally narrowed line profiles were employed in their analysis. By means of a least-squares fitting procedure, we obtained accurate information regarding transition strengths and pressure-induced broadening, shift, and narrowing coefficients. Both TTFMS and direct absorption line shapes were modeled with deviations as small as 0.3% over a wide pressure range by use of the collisionally narrowed line profiles. Line parameters measured with TTFMS showed excellent agreement with the parameters measured with direct absorption. The experimental technique used constant-current fast-wavelength scanning, which improved measurement accuracy.