Those are the same ages as my girls on our last two trips.
You don't need carseats unless you are renting a car.
Since this is your first trip- you may want to check out the Ultimate Disney Guide.
Is there anything that they LOVED to do? It's a little overwhelming to see everything that is available and try to navigate what the can do.
THank you for the response about the carseat. I didnt want them for the plane, but I didnt know if we needed them for transpor to the parks and since we are not driving I would say we can leave them home.
Another guide book

good thing I love to read .. and research my little heart out! Thats why I am starting now.
I'd bring a double stroller.
I liked staying at the Boardwalk Villas the best.
There is so much to do - we've never done it all! We simply enjoy the scenery at the parks - definitely go to MK early in the morning. It gets a bit crowded for my taste, plus then you can get on the cute rides like Winnie the Pooh, Buzz, etc... early.
I haven't done water parks with my kids yet.
The rides are great but remember the shows are awesome also!
Definitely start by seeing what your budget is and go from there!
I have a double stroller.. we rarely use it now, but I can bring it. DD prefers to walk 90% of the time and DS is still a little too young to be running about on his own. Neither of them ever slept in the stroller.. they are way too nosey.

Thankfully it folds small.
I'll look into the villas, I know DH has his heart set on something elaborate

he just wants it to be special all the way around. He really wanted to stay at Animal Kingdom. We will see. He wants to spend and I want to save

Always the case I suppose. I thought there might be a little issue with sharing a room with the kids but I havent thought too much about it.
What do you like about the boardwalk area?? My idea of a boardwalk is food games rides next to the ocean that type of thing. But I know its not necessarilly like that.
MK is our main stop and AK. I dont know all there is to do at these two.as I am still researching, but I have started a list of attractions we want to do along with an idea of what it is so that I can edit later if need be.
I thought about the water parks, but I think we would be ok with just the pools for this trip. Besides I need to give DH a reason to go back when the kids are older
Are there any shows you reccomend?
Im still overwhelmed with the eating plan... We would do best with a good sized breakfast and Dinner and do lunch on the fly.
As far as budget goes.... I have no idea what a low end trip would cost vs a high end trip. I'll look for or start a thread for that. I have a general idea where I want to be, but I am thinking I need to evaluate that.
THanks for the responces