Create a Linux software RAID 1 with the two 1TB drives, and another with the two 500GB drives, and then use the logical volume manager (LVM) to use both of the RAID devices as physical volumes (PVs) inside a single volume group (VG). On that VG, then create logical volumes (LVs) for your different filesystems. Ignore any BIOS options to create RAIDs. Those are fakeraids, and the Linux software RAID will perform just as well or better.
The LVM concept can be a bit complicated if you haven’t encountered it before. Basically, PVs are just disks, partitions on disks, or RAIDs—pretty much anything which is a real physical storage device. VGs are created using one or more PVs, and you can think of them kind of like a “disk” in that they can be broken up into multiple “partitions,” which are the LVs. The LVs are then formatted and mounted like any other file system. There are many advantages to using LVM in a multi disk system. For one, it will allow you to treat your 1.5TB (1TB+.5TB RAIDs) as a single contiguous storage area. Also, a VG doesn’t care which PVs it is made of, as long as there is adequate space to hold all of its space which is allocated to LVs.
For example, today you have 1.5TB of space, but later you decide that you need more. You buy two 2TB disks, and create a RAID from those, and a PV from that RAID. Then add the new 2TB PV to your existing VG, which will grow to 3.5TB of space. You can now remove your old 500GB RAID and retire those disks, leaving you with 3TB of space. You can then expand your existing LVs (and underlying file systems) to use the new space which is available. Or, you could grow to fill the whole 3.5TBs, or remove all four old disks, etc.
It’s much too complicated to explain it all here, but there are online tutorials and documentation.
During the Ubuntu install, select the pairs of disks to be members of RAIDs, and create the RAIDs. Then select the RAID volumes (probably md0 and md1) to be members of a VG or LVM. I don’t know exactly how the Ubuntu installer phrases these things. The advantage to starting with a new system is you can mess it up a couple of times without losing any data. If you’re trying to install Ubuntu onto an existing system, then it’s much more complicated…
For a simpler, but less versatile setup, you can create the two RAID 1s during the install, and then put those two devices (md0 and md1) into a RAID 0 or a linear RAID. The Linux software RAID system can create a RAID 0 from different sized devices. It will stripe where it can, and not stripe where it can’t.