120.2 + 120.2 for a loop with two 7970s and a 3820 probably won't be enough even at stock speeds. It should be fine for normal clocks as long as you keep your water flow and fan speed high, but your deltaT would be really high as well; much more than the target 10 degrees.
You can use some of the results from
http://martinsliquidlab.org/2012/04/14/360-radiator-shootout-summary/ as a guideline, but I've not seen any specific data for the EX240. You can expect to get slightly less cooling from a 360 as two 240s.
At stock speed:
210w + 210w + 130w = 550w; + 20w (pump) = 570w
That means without any overclock on the GPUs or CPU, at full load you're looking at almost 600 watts you need to dissipate. At about 2200 RPM, the RS360 dissipates about 280watt and the RX360 about 300watt if you're looking for a deltaT of 10 degrees. That means that even at a very loud 2200 RPM, you would need two 360s instead of two 280s to get decent cooling at stock speed.
One thing to keep in mind is that radiators transfer more heat the higher your delta T becomes, so if you're running instead at a delta T of 20C instead of 10C, your radiators will pull more watts out at the same RPM. Unfortunately, overclocking is dependant on the temperatures of your chips, and a higher delta T means higher chip temps and less overclocking.
[Edit]
The 2200 RPM reference implies that the AP-15 would not be sufficient even at maximum. If you are okay with a high delta T, then you would need more powerful fans unless you get more radiator.
Edited by Electrocutor - 7/19/12 at 10:09am