If you have two intersecting circles with different length radii as shown here (and adapted/borrowed from another question), is the ratio of the two intersected arc's sagitta (FE and GE) equivalent to the ratio of their radii (AG and CF)?
If not, what is the best way to determine the lengths of the individual sagitta if only the total amount of overlap (FG) and the circles' radii are known?

No, the ratio is not, in general, the same. If $L$ is the length of $BE$, and $R_1$ is the length of $AB$ then $$ EG = R_1\left(1 - \sqrt{1-\left(\frac{L}{R_1}\right)^2}\right) $$ while $$ EF = R_2\left(1 - \sqrt{1- \left(\frac{L}{R_2}\right)^2}\right) $$ so that the ratio is \begin{align} \rho &= \frac{R_1}{R_2} \frac{1 - \sqrt{1-\left(\frac{L}{R_1}\right)^2}} {1 - \sqrt{1-\left(\frac{L}{R_2}\right)^2}} \end{align} which differs from the ratio of the radii by a factor of \begin{align} s &= \frac{1 - \sqrt{1-\left(\frac{L}{R_1}\right)^2}} {1 - \sqrt{1-\left(\frac{L}{R_2}\right)^2}}\\ \end{align}
I got the formula for the sagitta from wikipedia.