There are no connecting studios and no way to guarantee that the studios would even be close to each other. You would have to split the adults between the studios. For two adults and 3 young kids, you would be fine in a 1-bedroom. Plus you'd get the kitchen and washer/dryer in room.
This of course is assuming you are a family unit or at least that the adults are planning on sharing the king. If that is not the case, and each adult wants his or her own bed, then studios work. Not sure if this is always the case, but if you're using points it's a pretty similar amount either way. I'm basing that on a week in October when we're going and getting 2 standard studios, but we are party of 5 adults.
Edit: I was also assuming the 2 year old would be in the pack n play in the 1-bedroom, and pp mentioned that while I was typing my reply