How well does a single A\C unit provide 2 zone cooling

The best way to combat the condensation problem is to insulate the riser duct, aka metal duct, that is causing the problem. There are several ways to do the job. The best way is to use a vapor-barrier & spray-on foam insulation, but that can be costly and messy, unless done by a professional. Another is to use Rock-wool to insulate the duct, but often there is not enough room in the wall to use it. The insulation that I prefer to use is a Duct-wrap. It looks like bubble-wrap with small "bubbles" sandwiched between 2 layers of foil-lined plastic. It all depends on how much money you want to spend and how much space there is between the duct and the drywall.
The short-term solution, is to install a duct-wrap. It is available at home improvement stores in the building products department in the insulation section. It generally comes in various lengths at a 4 foot width & can be cut to size with scissors (or a razor-knife, if you are careful). To install it, simply measure the distance between the studs and add at least 12 inches to tuck the insulation behind the duct OR add 4 inches & staple it to the studs like traditional fiber-glass insulation. Cut the duct-wrap to size. You will also need to get metal (duct) tape to seal the seams between the upper piece and the lower piece of duct-wrap. It has a paper-backer to keep the glued side from sticking to itself. You will need to peel the paper-backer off when you install it. The Long-term solution would be up to you. You could hire someone to take apart your existing ducts and insulate them or you could do the job yourself, either way that is the only solution to your problem. And by the way, cutting a hole on the wall will only make matters worse by giving the humidity a direct path to the now un-insulated ducts.

I'm not a HVAC expert but a 5 ton unit sounds pretty large for a 3000sqft house. You can probably approach this in one of two ways. One is probably what the previous owner did and just throw more cooling capacity at the problem (two units, larger units, etc.). Alternatively, you can start looking at ways to get more out of your existing unit. Some things that might help:

• Improve attic insulation
• Improve attic airflow
• If your windows are old, consider replacing them with more efficient windows
• Find and plug sources of air leaks - doors, windows, electrical outlets and other exterior openings
• Plant trees and shrubs to help shade the house
• Install ceiling fans to help circulate the air
• Add insulation to the exterior of the house (requires replacing siding usually)
• Seal all duct work with proper HVAC tape to prevent leaks
• Insulate duct work
• Replace your air filter
• Install an air exchanger

The benefit of trying some of the above is that they also help when heating.