You can use videos created in Premiere Elements in After Effects.
You can use videos created in After Effects in Premiere Elements.
You can't dynamically link the two together.
I don't know if you can use After Effects' File>Import>Import Premiere Pro Project with a Premiere Elements project, but you can download a trial of After Effects and find out!
Remember, After Effects is not video editing software, so it doesn't act like it. I would highly suggest going through some resources to get a good foundation first before you try diving in on your own: Getting started with After Effects