You can use any combination of flash simms on the 2 simm slots on the 3640. Since you want 32, your choices are right, 2 *16 i have not seen a 32*1 configuration, nor does the docs list that. You do not get any advantage of running a 32*1 config as you cannot upgrade it to 64Mb flash, unless its a 3660.
I dont think there is a 64 MB or 128MB dimm available for the 3640. As far as I can see, you will have to get 4 DIMMS (Duals) each 32mb
Use this guide for more details
http://www.cisco.com/univercd/cc/td/doc/product/access/acs_mod/cis3600/hw_inst/3600hig/3600ch5.htm
Sankar Nair
UC Solutions Architect
Pacific Northwest | CDW
CCIE Collaboration #17135 Emeritus