First things first; your toddler CANNOT THROW TOYS AT THE DOG. But you probably knew that. Throwing the dog's things for the dog though? Fantastic.
Teaching a pup what's his and what ain't is going to take some HUGE patience from you and some viligence in keeping things off the floor while he's learning what's his and isn't his. He's a puppy. He's also a EB. He thinks EVERYTHING is his and for HIM! (Including your toddler) This is a good time to teach the toddler that when we are done playing with toys, we pick them up --- or the dog will eat them and get a tummy ache. I would be less concerned for ruined toys than I would be for expensive and dangerous operations to remove ruined toys from the dog.
Perhaps stick to the very basics on the beginning; teaching the pup and the toddler what one or two toys only belongs to the dog. And if you catch him chewing off GI Joe's head, don't yell at the dog. Yelling at the pup only teaches stealth and -- eventually -- how to run away with the toy. Grab one of the two toys he's authorized to have, go to him and make a "ACK" noise (or Tssst or whatever you want) and give him his toy and remove the other one. When he accepts the HIS toy, BIG PRAISE! Good boy - yes - that's your bone bone - or whatever. He can't speak English but he'll recognize that positive, loving energy!
I'm sure your toddler will really enjoy "Go get Tank's Toy" and then practicing making the dog sit to take the toy GENTLY from the boy's hand. You're also teaching the dog that the toddler is a pack leader and it's never too soon for that!
What fun you are going to have and what a marvelous bond your two boys are going to have when all this good training has taken place! Truly; You are blessed!