What (hardware/software) projector setup is needed to project both displays?
You basically need to have your macbook output to two displays, which it won't do easily/willingly.

There are a couple hacks...either doing the display output over USB or using a matrox display. See more info: here

One really hacky solution might be to output via air display to and iPad (hooked up to a projector)for the 2nd monitor. I'll buy you a beer if you make that work. :-)