You should each contribute at least enough to get the full match from your employers. I would then suggest you switch the next $5,500 each to personal Roth IRAs and max out. Then, if you can invest more, back to your 401k's and contribute.
To get started, ask for the SPD (Summary Plan Description) from each of your employers to learn more about the 401k plans and ask for the paperwork to fill out. You can also find out the ratings for each plan at BrightScope.
To know how you should put your portfolios together, I recommend you read Simple Wealth, Inevitable Wealth (2013 version) for best long-term results and a good understanding of how behavior will affect your returns. If you'd like to invest before reading the book, you could begin by splitting 3 ways: large cap, small cap, and international.
Good luck and I hope this helps!