Karin, many valves do not allow you to use both outputs. You would also want, need, a divertor to allow you to use one or the other (both is an option, but the divertors get more expensive). If you can accept both on all the time, it's easier. You'd need either a stop valve to turn off each head, or a divertor valve.
Often what is done is to put a twin-el on the currently used output to send the water two places.
Yes, there are fixtures to mate a hose for a hand-held in a wall mount. Not sure if Moen makes one.