The team announced the moves Saturday as it closed in on reducing its roster to the NFL's mandatory 53-player limit Saturday.
Milliner was the No. 9 overall pick in 2013, but injuries and inconsistency prevented him from living up to expectations. He was waived/injured with an ailing hamstring, meaning he would revert to the Jets' injured reserve list if he clears waivers.
Amaro was a second-rounder in 2014 who had 38 catches for 345 yards and three touchdowns as a rookie before missing all last season with a shoulder injury.