No. That's too much and for too long for what he brings. Love Schenn, but he isn't someone you overpay at this stage in his career; he will be 34 next season. I would go 1 year deals from here on out.
Yeah nothing more than $1 million. I'd even give him a limited NTC (which he'd probably use on other bottom-feeding teams but hopefully he'd want to go to a contender) and I agree with Ironman on the 1 year deals.