Booking award seats with miles is different from booking revenue seats with cash and points, and different rules apply. Airlines limit the number of award seats available on each flight, and when those are booked, the flight is no longer available with miles. Or, as with American Airlines, the “cost” in number of miles goes way up.
I use British Airways Avios and Alaska Airlines miles, and always book one way at a time, for half the number of miles as a roundtrip. Airlines I have booked this way include BA to Europe, American to South America, Qantas to Australia (in First Class!) , and Japan airlines to Tokyo. All airlines are in the One World partner group.
Booking one way at a time gives you much more flexibility.. I can book the outbound trip when the award seats are first released, rather than waiting for the return flight seats to be released. By that time, the outbound seats are likely gone. British Airways, for example, releases 2-4 award seats in Business Class on each flight 355 days in advance. They are usually taken that day, so anyone who waits until a later date to book round-trip may be out of luck.