Hi Jasper2009,
Not sure that the train between terminals is back up and working, as it was down for connecting to the eventual Union Station addition. So you may need to take the shuttle bus between terminals. But if your flight from EWR is on time, and since you're not checking luggage, three hours should be sufficient. Note that as anywhere, time of day may mean busier security/preclearance waits. Check the YYZ website for info on your day of travel if you can.
Link is:
www.gtaa.com
Here's a link I found for connections (assuming you're inbound to T-1 on AC and outbound on AA from T-3, and you don't need the info on the checked luggage as you don't have any).
http://www.torontopearson.com/Connecting.aspx#
bj-21.