The stuff below is probably child's play to all of you, but I find that it's an easy way to make these conversions in my head.
The easiest way I can think of to make equivalencies between hose sizes is to remember the formula for the area of a circle:
Pi*r^2
and since you're comparing the cross-sectional area of two round hoses, you have:
x(Pi*r^2)=Pi*R^2
Cancelling the Pi's leaves:
x*r^2=R^2
Ex:
x*(1/4)^2=(1/2)^2
x*(1/16)=(1/4)
x=4
So...since 2*(3/8)^2 is roughly 0.28, the 2x 3/8" outlets will actually flow better than the 1/2" inlet, and no worries.