I have a 2003 Sienna.
I drained both at the same time.
Put the plugs back in and refilled.
They share the same fluid, and you are refilling the differential when you fill the transmission.
By draining the differential in addition to the pan, you get more of the old fluid out.
Just to make sure that what I had read was correct.
I put the plug in the transmission pan, and slowly added fresh fluid to the transmission through the dipstick location, with the drain plug still out of the differential.....until I noticed fresh fluid coming out of the differential drain location.
Then I put the differential drain plug back in.
Again, this was just a test to see if I was really filling the differential through the transmission, and I was.
A drain and fill of the pan and differential will not take 8 quarts.
8 quarts is the capacity of the whole system, and you still have up to 1/2 of the fluid remaining in the torque converter, cooler, and lines.
I do not remember how much came out of the drains for the transmission pan and differential.....and I had dropped the pan also, which got me a little more fluid.....then I did a cooler line fluid exchange.
However, draining and refilling the pan and differential, say every 15K miles should be good maintenance for your transmission.