The way the oil reservoirs are supposed to work is that the external reservoir keeps the motor-mounted reservoir full. So in theory the only time the motor mounted reservoir gets low, is when the external reservoir is empty.
So you only need a sensor on the motor-mounted reservoir.
Of course in practice, those pressure valves that force oil from the external reservoir to the motor-mounted reservoir get dirty. It is good practice to check the external reservoir before each outing. I would also carry a quart of 2 cycle oil, to refill the motor-mounted reservoir, just for piece of mind.