I have the same tank, Aqueon 120 RR. I feed each overflow through a 1" ball valve into a horizontal 1-1/2" pvc pipe. I have a T in the pvc pipe which feeds a single pipe into a 1-1/4" flexible tube into the sump. It is about 2" into the water. I intend to put a valve on the pipe coming off the T to the sump, but I haven't gotten around to it yet.
Extremely quiet. Just have to adjust the overflows to eliminate air bubbles by using the ball valves. If I had the third valve installed, I would be able to keep the two existing valves wide open and only adjust the third.
Ultimate flexibility. If I want to concentrate the overflow to come more from 1 end of the tank than the other I can do so.
I use a similar solution for the return flow from the sump. I run one line from the pump into a UV sterilizer. The outflow from the sterilizer is then fed into a PVC T which branches to the two return pipes. I have the valves on the returns wide open, but I could alter these setting if I want to concentrate the return to one end or the other.
Both setups use DC variable speed pumps.
I'm sitting 3 feet away from the tank and can barely hear it. I have a 90 gallon tank (only 1 overflow) with a similar setup. It's 6 feet away, can barely hear it. The hum from a very small and quiet air pump feeding a 5 gallon bucket for QT for raising African cichlid fry drowns out any sound from the two aquariums.