So far I have never hosted a tournament that played Teams. In fact, I've never even played a team game, so I have been trying to get familiar with how it works. Details on how to play are readily available in the Tournament Guide, but I can't find details on HOSTING team play.
Teams is not well documented and probably the hardest event to host consistently (as far as having everyone do it the same). I find it most difficult because of rulings. Many cards were not designed for team play so their interaction is messy.
How do prizes work? Are prizes awarded like a regular open deck category to be divided by the members of the team as they see fit?
You are correct in your assumption. Prizes are awarded like all open categories. I split them the best I can and let the team members decide how to handle any unbalance. Rob has typically sent me two tournament winner cards (Chariot/HarvestTime/RandomTeP), one for each team member.
What about RNRS points?
I think that each team member receives the full RNRS points.
How much time is allowed for each round in a team game? Is it the same as typical Type 1 multi-player?
Yes, the time is the same as T1-MP.
What about minimum number of rounds for Swiss-style? Should it follow the 2-player chart with each "player" being a team?
Yes, teams follows the two player format for pairing and number of rounds. In fact I use the two player section of the tournament tracker to run the teams event.