To get a better idea of how much I'm actually watering the plants, I decided to measure the amount of water that's released by the drip irrigation system. Each pot has two inline drippers so I put two of them in a juice jug that has fluid levels marked on it and ran the irrigation system for 20 mins. The total amount of water that was collect from both drippers was about 32 ounces. That means each dripper puts out about 48 ounces or a 1/3 of a gallon of water an hour.
The highs for the remainder of this week are in the low 90's, so its definitely going to be a hot week. I tured the drip irrigation system on for both plants for 15 mins on Sunday morning and now the soil in both pots is registering as being pretty dry (3 ~ 5) on the moisture meter. After my water test, I watered both plants using the irrigation system for 20 mins and then set it to run for 20 mins every 48 hours. This will supply each pot with a 1/4 of a gallon of water ever second day. I'll monitor the moisture level and see if this is an appropriate amount and adjust if necessary.
One additional thing I'll note for my own info is that I changed the batteries (two AA) in the drip irrigation control as they had apparently just died.