解:$ (1) $两个电视塔的传播半径分别为$r_{1} = \sqrt {2Rh_{1}},$$r_{2} = \sqrt {2Rh_{2}},$
则半径之比为$\frac {r_{1}}{r_{2}} = \frac {\sqrt {2Rh_{1}}}{\sqrt {2Rh_{2}}} = \sqrt {\frac {h_{1}}{h_{2}}} = \frac {\sqrt {h_{1}\ \mathrm {h}_{2}}}{h_{2}};$
$ (2) $电视塔高$h = 120m = 0.12\ \mathrm {km},$
传播半径$r = \sqrt {2 ×6400 ×0.12} = \sqrt {1536} = 16\sqrt {6}\mathrm {km}$