Under the View menu in version 11, you'll find a dual-monitor option. This will break the timeline off as a separate floating window that you can move to your second monitor.
Other than that, though, you can't really break off the individual panels and move them around your desktop.
SG can confirm, but I think that he meant to write "Under the Window menu in version 11....", not the View Menu.
There are some major considerations when using version 11's take on dual monitor setup which differs from earlier versions. I have written about this in great detail in one of my blog posts.
We will watch for your progress with this feature.
Oops. Yes, it's under the Window menu. Sorry. That's what happens when I rely on my memory.