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In my field, it is very common (among the best in the field) to consult part-time. It is also considered fair and ethical.
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Really? What's the field?
If you have a full time job, when would you do the consulting? At night? Weekends? Does your employer know you're doing this? (Or want to do this.)
As long as your employer is aware and okay with it, then that's great.
Being a consultant is an awesome role and can be very lucrative when you're truly an expert. If you are at that point and want to do do more consulting, I would highly suggest doing it full time.