The distance between fallers determines the energy requirements for communication. The lower person will also experience slower time than the higher.
The analogy is as follows:
Two BASE jumpers leap from the top of an infinitely tall radio mast in a vacuum, one after the other. They are in free-fall, so do not directly experience the effects of gravity, but the increase in the gravitational field as the distance to the singularity decreases will be detectable as a pseudoforce in that reference frame.
The first jumper writes a note on a baseball and throws it at the second. The second also writes a note on a baseball and throws it at the first.
The concern for the first jumper is not whether the baseball can be thrown back to the top of the radio mast, but whether it can be thrown hard enough and accurately enough for the second to ever reach it. The concern for the second is whether the first can catch his ball without exploding like a paper sack full of wet spaghetti.
The other thing to consider is that both fallers will "see" multiple images of the other, and of themselves, because there is a direct light path, the light path that twists around once, the light path that twists around twice, and so on. Images further away will be lower, slower, and older. If you aimed correctly, you could send messages to your older self, but I'm not entirely certain if your older self could reply.